Bond refinancing will save Madison taxpayers millions

The Madison School District #321 has completed a bond refinancing that will save taxpayers millions of dollars.

District Business Manager Varr Snedecker said a bond refinance finalized February 24 will save taxpayers $2,750,60 over the 12-year life of the loan. In addition to the savings, the action cuts a full year off of scheduled bond payments.

It is the second time in two years the district has refinanced a bond, saving a grand total of $4,799,603.

“Our bottom line is to secure the maximum amount of savings for Rexburg taxpayers and property owners, ” said Snedeker. “We feel it is our responsibility to ensure monies are being spent as efficiently as possible.”