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.