Thursday, June 18, 2009

Commission Weighing New Bond Debt

Commissioners in Mt. Lebanon are weighing whether to authorize a $4.4 to $4.5 million bond for street and sidewalk construction, and refinancing earlier debt.

The board discussed the bond on June 8. Some $2 million would be used to fund two years worth of street reconstruction, and a prior $2.4 million bond would be called and refinanced at a lower interest rate. Mt. Lebanon Finance Director William McKain estimated the municipality would save about $75,000 from refinancing. Other officials, however, say "wrapping" that 2004 debt will cost the municipality more money, not save money.

Link: www.thealmanac.net/ALM/Story/06-17-ML-bond-issue-B

Labels: , ,

Bookmark and Share

0 Comments:

Post a Comment

<< Home