North Thurston Public Schools Refinances Bonds, Saves Taxpayers Another $4.4 million

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Submitted by North Thurston Public Schools

North Thurston Public Schools recently refinanced a portion of its outstanding bonds in order to take advantage of lower interest rates.  The recent refinancing will save the District’s taxpayers a total of $4,459,088 during the next 11 years.  These savings flow directly to taxpayers through reduced tax levies and are not available for District expenses.

“This refund to our taxpayers is part of our ongoing effort to be good stewards of the resources approved by voters in our community,” said Deputy Superintendent John Bash, who oversees operations and finance. “We are excited to give back to our supportive community.”

Lacey-area voters approved a $175 million Neighborhood School Improvements, Technology and Safety upgrade bond measure in February 2014 with a historical 68 percent approval. The refinancing is for bonds issued in 2007.

This refunding decision, combined with three prior refunds since 2008, has saved North Thurston taxpayers a total of $10,023,219. “It’s very gratifying when we can be strategic and accountable to our voters,” said Board President Marcia Coppin. “We appreciate the community’s ongoing support of our students and our schools.”

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