Wayland Union School Di
strict taxpayers will save an additional $320,409 in interest in its third bond refunding this year.
The estimated savings is based on refunding series C bonds from 2007 totaling $2,755,000. The interest rate on the bonds prior to refunding was 4.0% and the interest rate of the refunded bonds is 1.28%.
With all three bond sales this year (March, April and August) interest savings to taxpayers adds up to $6.6 million.
The district was able to sell the bonds at a good interest rate due to its high bond rating and fund balance policy.