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Pella School District Refinancing Bonds

The Pella School District is making moves to save itself one million dollars. The board agreed on Monday to start the process of refinancing the bonds used to build Lincoln Elementary School. According to Pella School District Superintendent Greg Ebeling, the district will save the million dollars simply from getting its interest rate lowered from about 6% to somewhere around 1 to 2%. Ebeling says that the money saved over the 15 years will go back into the facilities development fund, as it is already earmarked for facility improvement projects.