(KLZA)-- Falls City Council members voted unanimously Monday night to approved a resolution to refinance Nebraska Department of Environmental Quality bonds used for upgrades at the water plant at Rulo.
Brad Slaughter with Piper-Jaffrey told the Council the potential savings has improved since his last visit, noting the dip in bond rates would push the city savings to more than $200-thousand by refinancing.
If issued immediately the bond rate would reduce from three-percent to 2.25-percent, cut the annual bond payment by approximately $5-thousand and bring the City a total savings of more than $226-thousand.
Since the paperwork did not get to the City in time to be part of Monday nights agenda, the final approval cannot be done until the September 3rd Council meeting. Slaughter said it will be important to keep an eye on the rates in the next two weeks, suggesting that if the rates increase by a quarter-percent or more, it might be wise not to move forward with the refinancing since it could not be done again for five years.
Slaughter started out by updating the Council members on a company change. He noted that The investment banking division at Ameritas, which the City has been working with, was sold to Piper-Jaffrey. He said it is only a name change and nothing will change for the City.
© Many Signals Communications
MOST VIEWED STORIES
Hiawatha man charged after escape from police custody
Meriden teen injured in Jeff co wreck
Two arrested in rural Horton drug bust
USD 415 board approves resignations, new hires
Fake sports rings seized enroute to Atchison
USD 115 board fails to fill vacancy after 3 votes
Early Saturday house fire battled in Atchison
Topeka woman arrested in Jackson Co on drug charges
Hearing held on USD 115 land transfer petition
Failure to stop, Georgia warrants, hold Atchison man
4th attorney appointed for TX man charged in fatal Jackson Co wreck
Lansing man arrested in overdose death
8-year-old injured in mid-week Atchison wreck
New Mayor appointed for Lancaster
LV man sentenced for teen sexual attack
K-9 bridge replacement underway in Nemaha County
LATEST STORIES
Electrical distribution project upgrades for Falls City
NPPD warns downed power lines can be deadly
MHMA Mock Trial Team wins state, heads to natls
Nebraska students taking advantage of dual credit courses
Lansing inmate dead, investigation continues
Motorcyclist injured in Winthrop, MO crash
Bird flu found in two KS dairy herds
Brown Co certifies election results
RELATED STORIES
City and County to discuss combined dispatch center
Waterfall project approved by Falls City Council
Falls City Council denies truck parking request
Falls City Council organizes for 2020
Falls City making progress on nuisance properties
Neighbors bring complaints to City Council
Falls City Council updated on park projects
Falls City utility rate increases gain first round approval