Treasurer: State Saving $43M by Refinancing Construction Debt 

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BATON ROUGE – Lots of people have saved money every month by taking advantage of low interest rates and refinancing their home mortgages this year. Now, state Treasurer John Schroder announced a refinancing of the state’s general obligation bonds that he said will save taxpayers $43.2 million in interest over the next 12 years. Annual state budget savings will range from $3.2 million to $3.4 million from 2022 to 2033. For 2021, state budget savings are expected to be $2.4 million.
“General obligation bonds are money we’ve already borrowed to fund construction projects across Louisiana,” said Schroder. “By lowering the interest rate, we saved taxpayers a significant amount of money. This is a smart way to lower costs and create budget savings.”
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