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RF School Board: New deal equals taxpayer savings

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The school board Monday passed a resolution to refinance just under $9 million in general obligation bonds for a much lower interest rate. The expected savings will go directly to school district taxpayers.

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The 1999 bonds relate to borrowing needed to build the high school.

Finance Director Chad Smurawa said the debt's current interest rate is 5.5%. The new rate will come during bidding next month. Smurawa expects it to be 2.8-2.85%.

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Phil Pfuehler
Phil Pfuehler has been editor of the River Falls Journal since 1991.
(715) 426-1050
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