Whitewater voters approve school referendum
WHITEWATER Whitewater School District will have more flexibility with its finances after voters approved a referendum Tuesday allowing early payment of a $2.1 million loan.
About 78 percent of voters agreed the district should pay off its Wisconsin Trust Fund loan nearly 10 years early, saving it about $565,000. Business Manager Jim Strasburg said that allows funds typically used for annual payments to be reassigned to the general operations fund.
The loan, taken out in 2004, was at a 5.5-percent interest rate. By refinancing, the district can lock it in at 2.5 percent.
District Administrator Suzanne Zentner attempted to garner public support for the referendum by holding three informational sessions leading up to Election Day. The only negative impact to paying off the loan early is extending the district’s other debt service by about two years, Strasburg said.
Follow coverage of the election in Walworth and Rock counties in our special online section HERE.
Unofficial results from the Walworth County Clerk's office are HERE.
Results are only from the parts of districts within Walworth County. Many state senate and assembly districts also include areas outside of Walworth County, so results aren't complete until all counties have reported their vote totals.
Twitter users are posting using the hashtags #wivote and #wipolitics HERE.
Read the full story in the Walworth County Gazette, online in the Gazette e-edition HERE, or check WalworthCountyToday.com after 4 p.m. for the latest details.