School refinance will save $340,253

Sisters taxpayers will save $340,253 over the next 10 years on bonds for the construction of the original Sisters High School in 1993.

On the advice of consultants Seattle Northwest, the Sisters School District re-funded the bonds to take advantage of a lower interest rate.

According to financial officer Diane Shelly, the district's advisor, Charles Colson, said that "over 6 percent present value savings is the highest he can recall ever seeing on a bond in excess of $5 million."

The bond amount re-funded was $5,290,000.

The savings translates to approximately $.34 per $1,000 of assessed valuation or $68 per year on a $200,000 home.

The savings will not be found on this year's tax bill; it will first appear on the November 2003 statement.

Author Bio

Jim Cornelius, Editor in Chief

Jim Cornelius is editor in chief of The Nugget and author of “Warriors of the Wildlands: True Tales of the Frontier Partisans.” A history buff, he explores frontier history across three centuries and several continents on his podcast, The Frontier Partisans. For more information visit www.frontierpartisans.com.

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