KGMI News Reporting
By Mike Curtiss
BELLINGHAM, Wash. – Bellingham Public Schools recently refinanced some of its bonds at a lower interest rate, saving taxpayers more than $2.4 million.
Ron Cowan with the school district says this is similar to what homeowners do when they refinance their mortgage at a lower interest rate.
The bonds from 2006 were used to build Wade King Elementary and Cordata Elementary Schools, and re-build Shuksan Middle School.
The new interest rate is slightly more than 2 percent.
Cowan says the district is “extremely grateful” to the community for their ongoing support of school bonds and levies, and the district will always look for ways to save money and spend wisely.