Tumwater School District will save $352,000 by refinancing debt

The Tumwater School District has refinanced a portion of its outstanding bonds.

The move will save taxpayers about $352,000 during the next five years, according to director of finance Allen Jones.

The district approved an issuance of $5.8 million in refunding bonds on Wednesday. Interest rates on the new bonds average .90 percent compared to 4.5 percent on the old debt.

For more information about the refinancing, call Jones at 360-709-7011.