Refinancing of bonds to save $400,000

Refinancing of bonds to save thousands
Move expected to save taxpayers $400,000

Board members last night took the first step to save taxpayers an estimated $400,000 by refinancing existing district bonds.

Interim Business Manager Pat Johnston said low interest rates make the timing right to refinance. Seattle Northwest Securities is assisting the district throughout this two month process. Johnston said there are several steps the district must complete before the bonds get new, lower interest rates.