Bond refinancing to help state higher ed projects

CHARLESTON, W.Va. -- The West Virginia Higher Education Policy Commission is refinancing bonds for school improvement projects to take advantage of a favorable bond market.The move is expected to provide an additional $5 million this year for capital improvements.
The commission voted this week to refinance bonds issued in 2004.Senior director of facilities Rich Donovan says the bonds' current rate is 4.99 percent. A rate around 3.77 percent is expected with refinancing.Interim chancellor Paul Hill says the commission hopes to complete the refinancing by the end of the month.
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