Six school districts in Oneida and Herkimer counties have saved close to $1.1 million from bond refinancing through the Dormitory Authority of the State of New York, the authority announced Wednesday.
Those districts include the Adirondack Central ($73,049), Central Valley Central ($162,064), Rome City School (two bond issues — $465,380 and $120,067); Vernon-Verona-Sherrill Central ($68,948), Dolgeville Central ($148,829) and Herkimer Central ($145,910).
Those are net present value savings that will be accrued, though, over the life of the bonds.
In total, 54 districts across the state will reach $17 million in net present value savings as part of a $300 million refunding through the authority’s School Districts Revenue Bond Financing Program.
“Quality education for our students is our No. 1 priority,” said Rome Superintendent Peter Blake in a release. “The savings achieved in partnership with DASNY help us prepare them for the next step on their journey to success.”
Contact reporter Amy Neff Roth at 315-792-5166 or follow her on Twitter (@OD_Roth).