Finance Committee recommends 5-year fixed-rate debt refinancing
Alford Finance Committee backs 5-year fixed-rate debt refinancing to save interest costs. At its February 17 meeting, the committee unanimously recommended the town explore a five-year fixed-rate note at an interest rate not to exceed 2.5 percent for refinancing the Alford Link and Fire Truck Note
Finance Committee · Meeting of February 17, 2021
Alford Finance Committee backs 5-year fixed-rate debt refinancing to save interest costs. At its February 17 meeting, the committee unanimously recommended the town explore a five-year fixed-rate note at an interest rate not to exceed 2.5 percent for refinancing the Alford Link and Fire Truck Note maturing in March. The five-year option would save approximately $19,000 in interest costs versus alternatives and carries a one-time issuance cost of $1,100 versus annual fees of $550.
The committee also unanimously approved emergency transfer requests for overtime, Medicare expenses, and street lighting.
In the full story:
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Source: the Finance Committee meeting of February 17, 2021, compiled from the official minutes.
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