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Brookfield refinances bonds, saves thousands on interest

Brookfield officials say the town has saved $276,000 in interest expense.  The town went to market and issued new bonds to replace $3.6 million in existing bonds, taking advantage of lower interest rates. The estimated savings is after expenses, over the life of the bonds, which were issued with the same maturity dates as the original ones.  First Selectman Steve Dunn says there was very strong interest in the bonds, with eight underwriters bidding on the issuance.  He says Brookfield's strong financial position and balance sheet enabled the town to obtain a much lower interest rate.

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