Danvers Looks For Best Way To Pay For New School

DANVERS, MA -- Danvers officials are considering options to pay for the new Smith Elementary School, which is scheduled to open in 2021. The two proposals include 20- and 30-year bonds, according to comments by Town Manager Steve Bartha at Tuesday's Board of Selectmen meeting. While the 20-year bond would cost taxpayers more upfront, it offers an overall savings over the life of the loan.

"Neither of these paths is right or wrong," Bartha said. According to the Danvers Herald, which first reported this story, a majority of board members signaled they favored the 20-year repayment plan.

Previously on Patch: Danvers Moving Forward On Plans To Replace Elementary School

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