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Loans Refinanced Saving District Over $900,000.00

The Creek County Board of Directors recently approved resolutions to refinance two loans totaling $3,380,000. Combining the two loans will lower the interest rate from 3.225% and 4.375% to a low 2.75%. The resulting transaction will save the District over $900,000.00 in interest over the life of the original loans which would have matured in 2031 and 2049. The new loan closed on December 4th 2019 and has a term of 15 years.