Summit School District refinancing 9-year-old bond to save taxpayers $400,000 annually

Summit School District refinancing 9-year-old bond to save taxpayers $400,000 annually

The Summit School District Board of Education has authorized district staff to pursue refinancing nearly decade-old bonds in a move expected to save local taxpayers around $400,000 annually over the next 10 years. The board approved the resolution during a meeting Thursday, July 23, effectively allowing district administrators to move forward with refunding the district’s 2017 general obligation bonds. The resolution appeared on the board’s cons…