New school bonds to save tax money

Published on Wed, Mar 10, 2010
Read More News

In a nice break for local taxpayers, the Blaine school district has refinanced its 2001 and 2002 bonds to take advantage of lower interest rates.

The savings amount to $755,000 over the next six years. According to district superintendent Ron Spanjer, the savings flow back to taxpayers through reduced tax levies and are not available for district expenses.

“This is a direct savings to our community members in the form of taxes they expected but will not have to pay,” he said.

The interest on the new bonds averaged 1.86 percent versus 4.91 percent on the old bonds.