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Published Wednesday, Jul. 28, 2010

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Pasco School Board to refinance bonds

By the Herald staff

The Pasco School Board agreed Tuesday to refinance bonds from 2001 and 2003, a move that's expected to save taxpayers about $1.35 million over the next decade.

The savings will come through lower property taxes.

The board's vote was unanimous to issue $16.75 million in refunding bonds to take advantage of lower interest rates.

Districts use bonds to pay for construction projects, such as new school buildings.

Also Tuesday, Jeff Dong was sworn in as the newest board member, and Courtney Campbell and Claudia Euridice "Eury" Gallegos were sworn-in as the board's new student representatives.

Dong replaces Saul Martinez, who resigned earlier this summer to join the Pasco City Council.

The board also picked Bill Leggett to be the new board vice president. The slot was open because former vice president Sherry Lancon took over the president slot, which was held by Martinez.

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