Eugene, Oregon USA

Refinancing Saves Bethel Taxpayers…Again

A 2015 ribbon-cutting ceremony marked the opening of the new Willamette Science and Office complex. Bethel bonds that funded the new building are being paid off sooner, saving taxpayers thousands of dollars.

Just a few years after saving Bethel residents $1,500,000 in taxes, Bethel School District has saved another $780,000 for property owners.

The District has once again refinanced its bonded debt. As a result, Bethel will repay the debt more rapidly than originally anticipated, resulting in fewer tax dollars being spent on interest.

The bonds were used to build new Bethel schools and make dozens of other improvements.

The savings is similar to refinancing the mortgage on a home, with the goal of paying less over the long-term.

Bethel School District saved taxpayers $1.5 million in 2011 by shortening older bonds and securing lower interest rates.

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