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School board hears finance report; refinancing saves "just over $13,200,000," district finance director says
Summary
Liberty Public Schools finance director reported a Nov. 4 bond refinancing that reduced the district's average interest rate to about 3.02%, shortened the bonds' average life by roughly 2.8 years and saved just over $13.2 million in interest costs; two donations were also announced.
Miss Cindy Sullivan, the district's finance director, told the Liberty Public Schools Board of Education the district completed a successful bond refinancing sale on Nov. 4 that reduced its average interest rate and produced significant interest savings.
"It did save us just over $13,200,000 in interest costs," Sullivan said, noting the average rate dropped from about 3.83'to 3.87 percent down to about 3.02 percent and that the refinancing shortened the…
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