Bond refinancing will save money for NICC

Northeast Iowa Community College will save an estimated $360,000 by refinancing some of the college's bonds.  NICC Board of Trustees members held two public hearings on the refinancing this week, then authorized the refinancing of $3,950,000 in bonds.  The action will allow the College to refund the old bonds and reissue them at lower interest rates,

After a public hearing and discussion, the NICC board also approved the lease/purchase agreement for the Dairy Center. This agreement allows the College to assume the debt of the Dairy Center and re-sell the facilities back to the Northeast Iowa Community-Based Foundation at the end of the 20-year lease term.