RF School Board: New deal equals taxpayer savings
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.
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%.