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City Saves With Refinancing Measure

Posted: Thursday, February 17th, 2011 at 6:21 am
Author: KNIA/KRLS News-Shaylon Cochran

As the City of Pella continues work on next year’s budget, officials have been able to find some areas in which to save money. City Administrative Services Director Jenny Hesseltine tells KNIA/KRLS News the City Council approved a measure that would allow Pella to refinance some loans through the State Revolving Fund. The loans have provided money for projects at the water treatment plant over the past ten years, and refinancing to a lower interest rate will save the city $98,800 over the next ten years.