ROANOKE - On the advice of their attorney, Scott Brunton, the village board is looking at the possibility of re-financing the bond issue for the water plant to save money on interest expense.
At Monday night's meeting, finance committee chair Bob Knepp presented research that they could save up to $268,000 in interest by spending $81,000 to re-finance the bonds.
“The net savings would be $187,000,” added Knepp.
However, those figures are derived from expected interest rates, which will not be fully determined until the re-financed bonds are actually sold. That concerned some of the board with regard to the advisability of beginning the process.
See article on June 20 Woodford County Journal newsstands