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Comal ISD paying off debt early

The Comal Independent School District is paying off bond debt early in an effort to save taxpayers money.

The district's board of trustees voted Thursday night to pay off $6.5 million in bond debt ahead of schedule.

The district said the move will save taxpayers about $1.5 million in interest. 

Approval of the early payoff also means the district's tax rate will be lowered by four cents.

The board will adopt the tax rate at next month's meeting.

Since 2004, the district has saved more than $55 million in interest payments through refinancing bonds and paying off debt early.