Northshore Fire Department reduces its bond debt

The Northshore Fire Department has retired more than $1.9 million in long-term bond debt, saving taxpayers roughly $1.1 million in interest payments over the next 15 years.

The debt was incurred in 2009 when the fire department issued $17 million in voter approved bonds to fund the purchase of property and construction of its new headquarters station and training facility in Kenmore.

The bond debt reduction was made possible by the sale of the fire department’s former headquarters station. The Board of Fire Commissioners took action to use the proceeds from the sale to retire the last year of what was a 20 year bond.

The former station served as Northshore’s headquarters from 1977 to 2011, and is now home to Colombia Crest Montessori School.