School to get low interest rate



TRENTON — Trenton Elementary School will have to pay only 0.4 percent interest on the first installment of its repayment of the $75,000 it is borrowing from the school district’s special education reserve fund to help avoid further budget cuts or greater tax increases. The first payment is due in November 2020.

The loan must be paid back within five years, with at least 20 percent of the balance to be paid each year with interest. The interest rate for each payment is based on the amount of interest the special education reserve fund earned in the previous year.

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