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Minot Public Schools working to refinance bonds

(Minot Public Schools)
Published: Feb. 23, 2021 at 7:06 PM CST
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MINOT, N.D. – Minot Public Schools could be saving roughly $1 million in interest charges on construction bonds.

The district has one $20 million and one $10 million loan for construction.

Now the remaining amounts left will be combined into a 19.8 million bond.

A financial consultant told the district that refinancing a building bond could save the district $1 million.

“Interest rates are at historic lows they are the experts they tell us when to do this. They just did some in west Fargo some in Berthold,” said MPS Business Manager Scott Moum.

Earlier this month the district refinanced two other bonds.

Collectively the district could save more than $2 million over the next decade.

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