Bernards Schools Will Save $2.5M by Refinancing
Updated: Refinancing of 2004 bonds will save school district almost $168,000 per year, school board member says.
With interest rates inching up, the Bernards Township school district didn't quite save the $2.7 million expected for a refinancing program for the remainder of outstanding bonds from the last school construction referendum — but the figure was close. School Board member William Koch reported that the arrangement made for the refinancing of the bonds will save the district an average of almost $168,000 per year, for a total of $2.5 million in lower interest payments. The district had expected to save about $185,000 per year. Koch said last month this latest round of refinancing was for more than $24 million worth of bonds due to be paid off in 2030. However, he added on Tuesday that the bulk of the bonds will be retired between 2023 and …
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doug wicks
11:41 am on Saturday, February 23, 2013
.it should be easy to livestream the meetings with a simple wi fi camera as there is wi fi at the school -me thinks they don't want to do it more ›