The District’s debt consists of a combination of bonds, capital leases, and loans.  These debts were incurred to finance construction projects, purchase equipment, and acquisition of capital assets. The loans have been refinanced over the years to an interest rate on ninety-six (96%) percent of loan amounts at a 2.4% rate of interest or below.  The remainder of the loans, about four (4%) percent are financed at approximately a 3.2% rate of interest.