Bond refinancing will save more than $2.9 million

The Burnsville-Eagan-Savage School District 191 Board of Education has refinanced about $33.3 million in debt to save taxpayers through reduced debt payments. This refinancing will save approximately $2.9 million over the life of the bonds. 

The process is similar to when families refinance a loan or their mortgage to take advantage of more favorable interest rates, reducing the total cost of the loan. 

“We are always carefully managing our finances, working to be good stewards of the money our community invests in District 191 schools," said Stacey Sovine, executive director of administrative services.