Loading…
Sunday, April 20, 2014
Current Weather
Loading Current Weather....
Published: 2/2/2007

Lake Local to save more than $1M by refinancing

BLADE STAFF

MILLBURY By refinancing bonds that were sold in 2001 to build a middle school, the Lake Local Board of Education will save district taxpayers more than $1 million.

The board recently completed refinancing the original bonds, which were scheduled to be fully paid off in 2025, Treasurer Jeff Carpenter said.

He said the board decided to refinance to take advantage of low interest rates to lower the overall borrowing cost on borrowing for the construction of Lake Middle School.

By refinancing, Mr. Carpenter said the district saved 5.7 percent.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.