The company is now paying back the bond money for the Water Treatment Plant at a lower rate and will save $592,000
Water, Gas, & Light will save over a half-million dollars on the Water Treatment Plant.
The board voted unanimously to refinance bonds on the plant at a meeting Tuesday afternoon. The company is now paying back the money at a lower rate and will save $592,000.
“It’s very beneficial to go ahead and save that money,” said Finance Director John Vansant. “In the grand scheme of things it amounts to probably $1,25, $1.50 per customer per year.”
The board is also looking at options for boosting reserves which Vansant says are at a “dangerously low” level.
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