Federal Bonds will Save Taxpayers and District Millions

District Referendum Costs Virtually Interest Free 

Of the $16.7 million the district asked the community to support in last April’s referendum, $16,571,000 of that will be interest-free. The district has received bonding authority $8,521,000 in federal Qualified Zone Academy Bonds (QZAB) and $8,050,000 in Qualified School Construction Bonds (QSCB) at zero percent interest.

What does that mean for taxpayers and the district?

 The combination of the two federal bonds will save an estimated $3.3 million in interest.

“We were hoping for a significant portion of the referendum to be covered by these bonds,” said Alan Wagner, assistant superintendent of business and finance. “By having almost all of the referendum covered, both the district and taxpayers will see a significant savings.”

  1. This is excellent news! What are the intended plans for these significant savings?

    • Savings in property taxes, as the interest is not added to the loan.

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