School bond re-issue could save $290,000

Colfax School District has refinanced its callable 2003 bonds in order to take advantage of lower interest rates. The refinancing will save district taxpayers more than $290,000 during the next eight years.

Colfax Supt. Michael Morgan emphasized the savings to taxpayers will be realized through reduced tax levies for the bond redemption fund.

“This is a direct savings to our community members in the form of taxes they expected, but will not have to pay,” Morgan said.

The Colfax School Board accomplished these savings by approving issuance of $3,705,000 in refunding bonds at its meeting Monday....