PORT CLINTON — Port Clinton City Schools’ officials said a recent refinancing of its bonds used to build and renovate several of its schools will save around $1 million in debt-servicing costs.
The bonds were for work on Bataan Memorial, Port Clinton Middle, and Port Clinton High schools. The refinancing of about $24 million in debt was through traditional tax-exempt bonds.
School officials said the refinancing will allow the millage rate for debt to be reduced each year over the next 27 years. Property owners will see a decrease starting next year.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.