Lamar County School District Saves $1.9M After Refinancing - WHLT 22 Connecting the Pine Belt

Lamar County School District Saves $1.9M After Refinancing

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PURVIS, MS -

 Lamar County School District has saved nearly $1.9 million by refinancing its bond debt.

In December, the district refinanced $9.988 million of its debt at a 2.16 interest rate to save about $1.1 million.

This month, Jennifer Hession, chief financial officer says the district took measures to save an additional sum. She says the district refinanced $20.9 million at a 1.98 arbitrage yield. Hession says the system will $800,000 in interest.

The district is still paying on the $43 million bond issue passed in 2005 that built four elementary schools.

 

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