Who wants $3 million back? Grand Ledge Public Schools taxpayers to benefit from bond refinancing

By Madison Morse
Living in the Ledge Staff Reporter

After paying for a School Building and Sites bond issue since it was approved in 2007, the taxpayers of Grand Ledge Public Schools are soon getting a bit of a refund. Superintendent of Grand Ledge Public Schools Brian Metcalf announced in a press release that taxpayers will see a savings of approximately $3 million over the next 20 years. The money stems from the refinancing the 2007 bond passed for school improvements and will bring a 12 percent savings on interest rates. “The benefit of refunding or refinancing the bond is that after 10 years we have the opportunity to go back and see where interest rates are. Can we finance any better interest rate that we can save our taxpayers a whole lot of money?” said Metcalf.

State, federal and local taxpayers help chip in for CATA services

By Chris Hung
The Meridian Times Staff Reporter

The Meridian Township Treasurer’s Office spends just about 6 percent of money received from taxpayers on the Capital Area Transportation Authority. In comparison, about 4 percent is spent on their police force. “Voters [in Meridian Township] have approved the tax support for public transit,” said Julie Brixie, who is a member of the CATA board of directors and the township’s treasurer. “CATA receives subsidies from both the state and federal government as well.”

While taxpayers in Meridian Township are also paying for CATA’s bills, a large sum of the funding is actually paid for by the state and federal government in the form of subsidies, explained Brixie. More revenue comes from the state government, accounting for approximately a quarter of CATA’s revenues in 2015.