Decatur refinancing $7.4 million
Decision projected to save the city $310,000 in interest over next 25 years
Wednesday, November 3, 2010
DECATUR — City council members passed an ordinance refinancing Decatur’s $7.4 million wastewater treatment plant bonds at a special meeting on Oct. 19. Refinancing the bond will save $310,000 in interest over the next 25 years, thanks to historically low interest rates, without extending the length of the loan or the amount of money financed according to Michael Moyers attorney with Friday, Eldredge and Clark. After a brief public hearing with no public comment, aldermen Raegina Davis, Linda Martin, David Sutton and Sandy Duncan voted to pass Ordinance 10-05, establishing the maturity schedule for the city’s water and sewer refunding revenue bonds, ratifying and confirming the sale of the bonds, and confirming the existing water and sewer rates. Aldermen James Jessen and Trip Lapham were not present.
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News, Pages 1 on 11/03/2010