Whether to refinance $28 million dollars in debt incurred between 2008 through 2010 is a question that the Rapid City Area School District is asking, according to the Rapid City Journal. Although the market evironment appears promising at this point in time and it is a routine matter to refinance, school officials are concerned that the market might change due to the November presidential elections.
Presently, refinancing could provide benefits to the school district. Lowering the current 4.5 percent interest rate to a 3.0 percent interest rate would save the school district approximately $1 million over the long term.
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