HUBER HEIGHTS — Huber Heights City Schools taxpayers are set to see some financial relief over the next nine years due to bond refinancing, according to a spokesperson with the school district.
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This move is expected to result in a $2.39 million in savings for the community and can be compared to a homeowner refinancing their mortgage.
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The spokesperson said it locks in a lower interest rate, at 3.1%, compared to the previous 4.36%, on bonds that were issued in 2009 to fund the construction of new school buildings.
A similar refinancing process, known as refunding, took place in 2016.
“We are thankful we were able to utilize this process to save money for our district’s taxpayers,” Superintendent Jason Enix said. “We live in a unique community that includes almost 5,800 students who attend our nine schools. If we have an opportunity to give back, as in this case, we absolutely wish to make that happen.”
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