LNP’s headline asserts, “Lancaster city bond refinancing will save $9.1 million.”
Maybe yes, maybe no. Not mentioned in the article are any costs and prepayment or yield maintenance penalties due when the prior debt was paid off and the cost of commissions and hefty legal fees when the replacement financing was achieved.
We would like to believe that the refinancing was a good idea and saved quite a bit of money. But how much one cannot tell from the article.
LNP will only relate the positive side of things that they want to support…..there are two sides to every coin, which LNP usually is known to conveniently overlook. Unless, of course, the other side is what they really want to go after; in which case LNP will jump on it like flies on a pile of you know what.
Their crusade against Manheim Township School District as well as the Township itself is just the latest example.