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New Bloomfield schools to refinance more bonds

New Bloomfield schools to refinance more bonds

November 16th, 2012 in News

The New Bloomfield School District plans to refinance some more bonds next month, the district's board of education was told Thursday night.

New Bloomfield School Superintendent David Tramel said a spokesman for L.J. Hart & Co. of St. Louis, which represents the board in issuing building construction bonds, will appear at next month's board meeting and recommend refunding more bonds at a lower interest rate.

On Jan. 19, the board refinanced $1,130,000 in general obligation bonds at a lower interest rate, saving the district $131,215 in future interest payments.

"This second round of refunding of bonds also will save us a substantial amount of money," Tramel said.

Tramel said the district has applied for a $20,000 state grant to erect flashing school zone signs along Route J in front of the elementary school in order to slow traffic through the area.