Juneau Council Approves $1.5-Million In Bonding

2/15/17 – The Juneau Common Council Tuesday night approved $1.5-million dollars in bonding. Mayor Dan Wegener says the money will be used for a variety of projects including streets repairs, a DPW tractor and a new fire truck. The interest rate wound up being more favorable than first projected. Officials with finance company Baird had anticipated a rate of 3.1-percent and interest costs over ten years totaling $329-thousand dollars. Juneau had been an unrated municipality but city officials took advice from Baird representatives who said securing an investment rating would be a cost benefit. The city secured an A-rating which resulted in a lower interest rate of 2.7-percent and interest totaling $274-thousand dollars, $55-thousand-dollars lower than projections.