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In lean times, finding new funding for town projects

karenb@lakevillejournal.com

CORNWALL — A reissuing of the town’s only outstanding bond, to raise funds for the school expansion completed in 2005, was approved by the Board of Selectmen. It will trim annual interest payments by about $10,000.

The town is about seven years into the 20 year financing, paying about 4 percent in interest, according to the selectmen. The reissue would reduce it by about 1 percent.

Annual interest payments drop about $4,000 per year, with $72,000 due this year.

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