Monday, October 20, 2014

$21 million savings for McKinleyville taxpayers

Taxpayers in McKinleyville will save more than $21 million thanks to the refinancing of school bonds. - Jack Durham/Mad River Union

The McKinleyville Union School District recently refinanced $7.3 million in bonds, thereby saving $21.2 million over the next 36 years. That’s $4 million more than the savings anticipated back in August when the MUSD Board of Trustees approved the cost-saving measure.

The bonds were originally approved by more than 55 percent of voters in McKinleyville back in 2008 and were used to repair aging classrooms, upgrade utilities and improve energy efficiency at the district’s three schools – Morris, Dow’s Prairie and McKinleyville Middle School.