The Holts Summit Fire Protection District closed on the issuance of a nearly $2.3 million general obligation refunding bond to refinance its outstanding general obligation bonds.
The refinancing represents part of the work that the district does to serve the community.
The district's board of directors authorized the refinancing through the issuance of the refunding bond at a May 21 meeting. The board awarded the sale of the refunding bond to Central Trust of Jefferson City.
The refinancing will allow the district to shorten the repayment period for the bonds by one year. The shortened term along with lower interest rates results in total savings of about $180,000 over the remaining repayment period of about 12 years.