In 2006 bond issued $10,000,000
To date, balance is $9,454,000
The bond person says because lower interest rate, we should refund.
But here is what she said... $125,000 to the bond person for fees, etc.
$315,000 increase in debt to township. I have a problem with we have only paid just over 500Kin 11 years. Even if there is a lower interest rate, if we keep refunding and paying additional interest up front, how is that saving money?