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September
19, 2002
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Serving
Western Deschutes County
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Sisters,
Oregon
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The on-line Nugget does not feature all the stories of our print edition. For all the news, subscribe here.
 
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©
2002
The Nugget Newspaper
Sisters, Oregon
All rights reserved
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The
contents of the on-line edition of The Nugget represent a selection
among the stories that appear in the weekly print edition.
School
refinance will save $340,253
By Jim Cornelius
Sisters taxpayers
will save $340,253 over the next 10 years on bonds for the construction
of the original Sisters High School in 1993.
On the advice of consultants
Seattle Northwest, the Sisters School District re-funded the bonds to
take advantage of a lower interest rate.
According to financial officer
Diane Shelly, the district's advisor, Charles Colson, said that "over
6 percent present value savings is the highest he can recall ever seeing
on a bond in excess of $5 million."
The bond amount re-funded
was $5,290,000.
The savings translates to
approximately $.34 per $1,000 of assessed valuation or $68 per year on
a $200,000 home.
The savings will not be found
on this year's tax bill; it will first appear on the November 2003 statement.
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