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FORT WAYNE – Like millions of homeowners, City Utilities is refinancing.
Board of Public Works members Wednesday voted to begin the process of re-issuing $28.8 million in sewer revenue bonds issued in four sets in 2002 and 2003 to take advantage of lower interest rates.
City officials estimate the refinancing, which will not extend the length of the payment period, will save more than $2 million in interest. The move must also be approved by the City Council.
For more on this story, see Thursday’s print edition of The Journal Gazette or visit www.journalgazette.net after 3 a.m. Thursday.
