Clark-Pleasant is going to get a lower interest rate on loans that paid for land and buildings, which will help the school district better afford other upcoming debt payments.
The school district wants to refinance two bonds from 2004 and 2005 that paid for additions at Clark Elementary School and renovations at the administration and operations buildings. Taxpayers won’t pay for the projects any longer than initially agreed to, but the district would save more than $500,000, business director Steve Sonntag said.
The savings should help lower the district’s 2016 and 2017 debt payments, which currently are close to $15 million. Sonntag said he would like to see those payments reduced at least to $14 million.
