Refinancing bonds to save Camas schools millions

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Camas School District will save $2.2 million over the next six years by refinancing decade-old bonds, district officials said this week.

The savings, officials stressed, go to taxpayers, in the form of reduced tax levies.

The Camas school board achieved the savings by approving issuance of $21,970,000 in refunding bonds last week. Interest rates averaged 1.42 percent on the new bonds versus 5 percent on the old debt, officials said.