The Woodland School District will save taxpayers more than $220,000, courtesy of bonds refinanced this week, district officials said.
The district refinanced $3 million worth of bonds Tuesday. On Jan. 23, the district’s school board authorized Superintendent Michael Green to refinance bonds to take advantage of low interest rates.
Interest rates paid on the bonds dropped from 4.58 percent to 1.66 percent as a result of the refinancing, district officials said. The Federal Reserve’s recent announcement that low rates would continue into 2014 factored into the decision, officials added.