Wednesday, July 24, 2013

Refinancing Saves Lafayette $8.3 Million

Taking advantage of record low interest rates, the City of Lafayette is refinancing 11 bond issues that will save the city a total of $8.3 million, says the Journal and Courier: "The refinancings eliminated $6 million in interest on water pollution control projects; nearly $1.9 million in interest on road and infrastructure improvements; and about $415,000 in interest on parks projects." Mayor Roswarski notes that savings on the park bonds "puts money back in the pockets of taxpayers." The mayor is also optimistic about using the savings on water pollution to help the city meet new federal standards on phosphorous. Read more from the J&C here.