L'Anse Creuse Saves $3.3 Million by Refunding Bonds

L’Anse Creuse Public Schools finalized refunding bonds today, which will save taxpayers $3,370,439, or 10.65 percent on repayment of bonds associated with the 2005 bond issue.

Bond funds are used for assets such as buildings and tangible items like technology. Bond money cannot be used for salaries.

“This is similar to refinancing a home mortgage, where we have lowered our interest rate,” said Superintendent Jackie Johnston. “Our business department has done an outstanding job in managing the district’s funds to provide the maximum use of our taxpayers’ contributions for our facilities.”

Information provided by a May 15 press release distributed by LCPS.