Wednesday, November 30, 2011

Just Saved the Taxpayers $3.7 Million!

This isn't on the tour of schools and sites, but I have to share a pretty unbelieveable thing we just did.

Today we refinanced our 2004 construction bond. Basically, it's like refinancing your house...if your house had a $38 million mortgage. We were able to reduce the interest rate on our school construction bonds from 5.25% to 2.98%. By issuing new bonds at a lower interest rate, we were able to save taxpayers $3.7 million!

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