Oregon City School District to Refinance Facilities Bond
Oregon City, Oregon–January 15, 2013–Oregon City School District today announced that it would refinance a facilities bond from 2004.
On Monday, January 14th Oregon City School Board members voted unanimously to authorize the district to refinance the bond and benefit from historically low interest rates.
"I want to pause and congratulate the school district and acknowledge the savings that will be brought to taxpayers," said Chris Storey, School Board Vice Chair.
The refinance will save district taxpayers an estimated $3 million to $3.5 million over the remaining 8 years of the bond. The nearly $45 million dollar current balance on the bond will be paid off in June of 2020.
"This is great news for Oregon City School District taxpayers. Favorable interest rate markets and the district's strong credit rating will save millions of dollars in property taxes for school district households," said Wes Rogers, Business Manager.
Oregon City School District is an equal opportunity educator and employer.