Board OKs school bond refinancing

By Shelby Stewart
Staff Writer
At the regular meeting Monday night, the Brandon School Board of Education voted unanimously to approve a school bond loan fund authorizing resolution.
“This is our sixth one that we’ve done in the last several years,” said Jan Meek, Brandon executive director of business services. “And we’re going to say that by refinancing or refunding our school bond loan fund, we will save approximately, the expectation is to save the taxpayers a million dollars.”
The refinancing is available due to lower interest rates, and works like refinancing a mortgage.
“If we look at all of the refundings we’ve done the last several years, we’re looking at about $11.7 million savings to the taxpayers,” said Meek. “So we have definitely benefited from those lower interest rates and so we’re taking advantage of that.”

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