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
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