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Refinancing Will Save Missouri $11 Million

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(KWMU File Photo)

By AP/KWMU

Jefferson City, MO – Missouri will save more than $11 million dollars by refinancing some of its loans.

The state's Board of Fund Commissioners approved the refinancing of about $150 million worth of bonds this week. The board consists of the governor, lieutenant governor, state treasurer, auditor, attorney general and commissioner of administration.

Of the $11 million saved, $2 million will be saved in interest payments this current fiscal year. The governor says the money should go to education, but even if it did, the state would still be sending less money to schools this year than it did last year.

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