The Camas School District has authorized more than $54.8 million in repayments for bonds used to fund a number of major construction projects.
The district recently refinanced its redeemable bonds from a $90 million construction bond measure. Voters approved the measure in 2007, providing the money for several big building projects, including the replacement of Helen Baller Elementary in 2009 and later the construction of Woodburn Elementary School.
Refinancing allowed the district to take advantage of lower interest rates. As a result, taxpayers in the district’s boundaries will save more than $4.79 million over the next 12 years, district officials estimate.
“This is a direct savings to our community members in the form of taxes they expected, but will not have to pay,” Superintendent Mike Nerland said in a prepared statement from the district.
