The Lake Dallas school district recently finalized refinancing a portion of its bonds from its 2002 and 2004 series at a lower interest rate and saving taxpayer money.
At a school board meeting March 18, Wes Eversole, the district’s deputy superintendent and chief financial officer, told members the bonds sold Feb. 27 at an interest rate of a little more than 2 percent. The district intends to save $3.2 million over the course of 24 years and about $131,000 annually as a result of the transaction, he said.
It’s expected the district will begin accruing the savings next school year, according to district officials.
— Britney Tabor