From the Northwest Indiana Times:
The Boone Township School Board approved a plan to restructure the district’s debt after a public hearing Tuesday yielded no comments or objections.
Superintendent George Letz explained to the small audience why the district chose the debt restructure after years of reduced funding from the state legislature and a defeated property tax hike referendum this past spring.
"This is part of the $25 million it took to build the high school," Letz said. "We can restructure to get a better interest rate to help us save money and provide money to counteract the money we’re losing to the circuit breaker in the funds that are tax-supported."
Letz said the district lost $470,000 to the property tax cap.
"It is very important that we do this," Letz said. "It is really a tremendous savings."
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http://www.nwitimes.com/news/local/porter/hebron/boone-township-schools-approve-debt-restructuring/article_edd11200-2013-5ad2-91a0-0b50a69f3414.html
