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