According to this story by the TAB’s Jonathan Dame, the city has “refinanced a group of 2009 bonds, most of them tied to the Newton North High School reconstruction project.”
From the article:
A lower interest rate will save the city $12.9 million over the next two decades, according to the city’s chief financial officer.
That includes roughly $1.2 million this fiscal year, $750,000 for the next two years, and $500,000 every year thereafter until 2039.
Sounds like good news to me.
What has the city paid in interest rates so far for the high school debt? What will the total cost be for the high school and when will the entire debt be paid off?