The Imperial Irrigation District has taken advantage of lower interest rates to refinance 2015 bonds.

The refinancing allows the IID to take advantage of lower interest rates. Approximately $150 million of the existing IID bonds that will mean an estimated $1.9 million in annual debt service savings. That equates to $20.7 million in savings through 2038. According to the IID, the savings provide added flexibility for the district to continue investing in infrastructure.