Village Saves Big with Bond Refinance
8/16/2016
The Village Board approved an ordinance that authorized the refunding/refinancing of existing bonds for the TIF District and Fletcher Park at the August 15th meeting that will save over $206,858.59. The bond funds, originally issued in 2009, were used to develop Mt. Zion Village Park East and Fletcher Park. According to Village Administrator Julie Miller, "interest rates are very low and it just made sense to refinance the bonds with the exact same terms and save the Village a significant amount of money over the next 12 years." The Village utilized the services of Kevin Heid, of Stifel, for the refinance.