The Chelsea School Board unanimously approved the refinancing of the district’s 2004 school building and site bonds on Monday.
The project is expected to save taxpayers about $1.3 million, according to the Chelsea Update.
During a meeting with the accounting firm Stauder, Barch and Assoc. Inc., the board said refinancing the bonds would result in a reduction of over $1 million in savings to taxpayers.
The new refunding bonds are dated Jan. 1, 2013.
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