want to check your math. The bond amount is somewhere north of $50 million. Repayment will commence in 2013. That will mean a rate increase in fiscal year 2013. But, it will take more than 3 or 4 years to repay. I believe they are proposing a 25 year payment schedule. If the debt service is $3 million per year; and there is a 25 year payment schedule, then there would be debt service of around $23 million over the bond term.
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