The Boardman City Council passed a resolution Tuesday night authorizing the refinancing all of the city’s general obligation water and wastewater bonds.
Boardman City Manager Karen Pettigrew said while the interest rates are lower, the city could refinance these bonds and save taxpayers an estimated $1.6 million in interest.
The wastewater bond is a 40-year bond issued in 2003 in the amount of $3 million. The water bond is a 25-year bond refinanced in 2006 in the amount of $3,560,000. The loans were used for additions and improvements to the city’s water and wastewater collection and treatment facilities. The city expects to refinance these bonds with an interest rate at no more than three percent.
In other city business, councilors passed a resolution to increase garbage rates in October. They discussed a proposed chronic nuisance ordinance and set a date for a workshop to discuss the language of the proposed ordinance. Councilors voted to approve a hardship permit to allow an injured horse to be kept within the city limits until Sept. 1 at 129 NW Columbia Ave.
The next meeting of the Boardman City Council will be Tuesday, Aug. 16 at 6:30 p.m. for a workshop session.
More Stories from Northeast Oregon Now:
Boardman to Raise Garbage Rates
Free Youth Hunt Offered Near Hermiston
Stanfield Man Dies in House Fire
Expect Traffic Impacts During Work on Highway 11
