Anita Weston, Reporter
October 18 2012 - RANDOLPH - The School Board took
advantage of an opportunity to lower interest rates of the school bond that was
issued a number of years ago. This was
done by retiring the older bonds that have a higher interest rate for new ones
that carry a much smaller interest rate.
In the process of doing this, the School Board was able to save the
citizens of the County approximately $319,000.
The bonds still have several years to run, but by dividing the number of
years into this amount saved, it was determined that the schools will be saving
approximately $40,000 a year in interest payments.
No comments:
Post a Comment