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Board action to save taxpayers $3 million on bonds

Posted Date: 03/11/2021

The Andover Board of Education on Monday took advantage of a favorable bond market to approve the refunding of approximately $63 million in bonds approved by voters in May 2017. Similar to refinancing a home, the action allows the district to pay less interest over the remaining life of the bonds.

As a result, district taxpayers will save more than $3 million through 2034. This one of the many ways Andover Public Schools is working to provide financial stewardship of taxpayer funds to maximize the benefits for our students.