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.