By Seth Kinker, email@example.com
On Feb. 11 at their monthly board of education
A process compared to refinancing a house, Manchester Superintendent Nick
After receiving nine bids, Steinmetz told the board he had received a bid for 2.3% resulting in saving Manchester taxpayers $273,000 compared to $167,000.
“When the board originally put them out for refinancing, we put the minimum threshold on what we wanted to recoup in the refinancing process,” said Steinmetz. “We were hoping for 2.7% to get that $167,000 back but it came back and a whole lot more people put in proposals.”
It doesn’t do anything for the district finance wise but will lower the tax base for the community with the millage rate lowering for the bond payments.