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School district refinances bonds

School district refinances bonds

April 4th, 2012 by Democrat Staff in News

The California R-I School District has completed the task of refinancing a portion of the schools bonds.

According to Superintendent Dwight Sanders, the district worked with L.J. Hart and Company to refinance $4.4 million of Missouri general obligation bonds. By doing this, the district has saved $1.033 million as well as shortening the final maturity by five years.

In the last seven years, the district engaged in three separate incidents of refinancing bonds. A total interest amount of $1.845 million.