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Refunding and paying additional interest

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Reference no: EM131411600

In 2006 bond issued $10,000,000

To date, balance is $9,454,000

The bond person says because lower interest rate, we should refund.

But here is what she said... $125,000 to the bond person for fees, etc.

$315,000 increase in debt to township. I have a problem with we have only paid just over 500Kin 11 years. Even if there is a lower interest rate, if we keep refunding and paying additional interest up front, how is that saving money?

Reference no: EM131411600

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