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Ellsworth school board acts to refinance district debt

ELLSWORTH, Wis.--Refinancing two items of district debt was approved by the Ellsworth School Board Monday.

Two referendum debt issues which are outstanding can be legally refinanced, bond counsel told the board's budget and finance committee last month, according to Superintendent Dan Kaler. Refinancing would result in a lower interest rate, Kaler said.

"A savings of $60,000 to $65,000 will be passed on to district taxpayers," he said.

Two bond sales can be done by April 1, the superintendent said. There will be a 10-year period during which some savings will be recognized each year, he explained.

Read more in the print version of the Pierce County Herald March 12.