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City Council Approves Bond Refinance,
Saves City Nearly $5 Million
Saves City Nearly $5 Million
On Tuesday night the City Council approved the refinance of the 2012
Bond with a remaining balance of just under $51 million. At the new rate
the city will save approximately $950,000 a year for the next five years
after the refinance fees have been saved netting the city nearly $5
million. This is being done without the use of any new tax and without
having the extend the term of the loan.
This money will be placed directly into the city's General Fund and represents a huge win for taxpayers in Springdale as we move toward more infrastructure, better parks, enhanced police and fire safety and a better overall living environment for our citizens.
This money will be placed directly into the city's General Fund and represents a huge win for taxpayers in Springdale as we move toward more infrastructure, better parks, enhanced police and fire safety and a better overall living environment for our citizens.