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Duluth School District debt to be partially refinanced

DULUTH, MN — The Duluth School Board has voted to refinance some of the district’s debt.

The board approved options for refinancing and restructuring some debt created from the infamous Red Plan Tuesday night.

The administration recommended the move in hopes to reduce the taxpayer burden by over a million dollars over the next eight years.

The district will refinance two bonds and restructure another, which would extend the life of the bond, but help bring money to the general fund.

The board will further discuss the refinancing options during next week’s meeting.

CBS 3 Duluth Staff

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