THE CITY OF GRINNELL WILL BE SAVING SOME MONEY BY REFINANCING SOME BONDS.
INTEREST RATES ARELOW…ANDCITY COUNCIL MEMBER JIM WHITE SAYS THE WINNING BID TO REFINANCE THE BONDS CAME IN AT ONE PERCENT FOR THE FISCAL YEARS 2011 AND 2012…ONE-POINT-ONE-FIVE FOR 2013…ONE-POINT-FIVE IN 2014…AND ONE-POINT-EIGHT PERCENT FOR 2015.
THE LOW BID WAS SUBMITTED BY WELLS FARGO ADVISORS OF SAINT LOUIS. THE BONDS BEING REFINANCED WERE USED TO PAY FOR PHASE ONE OF THE CENTRAL BUSINESS DISTRICT PROJECT. THE TOTAL SAVINGS TO THE CITY WILL BE 103-THOUSAND-505 DOLLARS.
