City of Robinson saves more than $430,000 in interest costs

ROBINSON - The City of Robinson is trying to handle tax dollars responsibly by taking advantage of the current financial market and refinancing $5.8 million in bonds.

By doing so, the city got average interest rates down to 2.262 percent. The previous rates were between 3 percent and 4.25 percent. The change will save the city $432,993 in the next twelve years, a city spokesperson said.

"Saving money is always an easy decision to make," City Manager Craig Lemin said in a press release.

Two of the bonds were issued in 2007 and 2010 and are related to infrastructure.

© 2017 KCEN-TV


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