(Horicon) The city of Horicon is going to be netting $111-thousand dollars in savings by refinancing bonds. The city council Tuesday night approved a plan that will see over $12-thousand dollars in annual principal and interest savings over the next nine years. The bonds initially issued in 2010 for various water utility projects had a principal balance of roughly $1.3-million dollars outstanding. The 2020 Water System Revenue Refunding Bonds approved as part of last night’s action total around $1.17-million dollars. The money saved is expected to help stimulate operating funds in the water utility.
Photo courtesy of www.cityhoriconwi.us