The new interest rate will be 3.1%, down from 4.36%, according to Monday’s press release.
“This savings does not benefit HHCS directly, but is instead passed on to the district’s taxpayers, whose taxes will be lowered due to paying less interest on those bonds,” the statement reads. “The process is similar to a homeowner saving money by refinancing to a lower interest rate.”
A previous bond refinancing process, also known as a refunding, was completed in 2016, the district said.
“We are thankful we were able to utilize this process to save money for our district’s taxpayers,” said HHCS Superintendent Jason Enix. “We live in a unique community that includes almost 5,800 students who attend our nine schools. If we have an opportunity to give back, as in this case, we absolutely wish to make that happen.”
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