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MONTROSE, N.Y. Hendrick Hudson School District will save $630,000 over the next 12 years after refinancing a bond issued in 2003. The bond was part of the districts 2001 capital improvement plan. The district should save $55,000 annually through the life of the bond, ending in 2023.
This is a great opportunity for our taxpayers, remarked Assistant Superintendent for Business, Enrique Catalan. This refinancing will free up additional capital that can be applied toward lowering the tax rate or saving a job.
We are very fortunate to have Mr. Catalan on our staff, said Dr. Daniel McCann, superintendent of schools. His attention to detail and financial savvy have saved countless dollars over the last several years without having a negative impact on our programs or students. It is this kind of forward thinking, proactive approach to finances that have ensured our district is on firm, financially healthy footing.
The district lowered its interest rate just over one percent, after refinancing the districts interest rate dropped from 3.91 percent to 2.906 percent.
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