-Local News
5:00 am
Wed September 28, 2011

CISD refinances CHS bond, saves over $728K

COMMERCE - Commerce taxpayers are poised to save over $728,000 over the life of a bond recently refinanced by the school district.

CISD Trustees voted in favor of seeking a bond refunding in August after being presented with a plan by Jim Brooks with Southwest Securities. Refunding became an option for the Series 1998 bonds after ten years.  

According to Commerce ISD Superintendent Blake Cooper, the District was able to cut the interest rate in half and knock three years off the payment schedule while keeping the payments the same.