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Bond refunding could save Wadena Deer Creek district nearly $500,000

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District 2155 is looking at a saving of $474,223 over the next 10 years by reobligating $4,495,000 worth of general refunding bonds.

The school board approved a motion to proceed with the reobligating proposal at their February meeting Monday.

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The true interest rate is 2.4460.

The process consists of refunding bonds and then going with the lower interest rate.

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