US - Denver's public schools saved money by borrowing $750m to close a pension deficit and to refund debt even after the interest-rate swaps it used with the financing backfired, officials said.
The 2008 bond sale saved more than $20m because the system used about $400m of the proceeds to fill the pension deficit, avoiding an annual penalty of 8.5%, or $34m, it would have had to pay when i...
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