New London opts to refinance 2 water bonds

NEW LONDON Council voted to refinance two water system bonds Monday, saving the village $139,000 in today's dollars over a 15-year period. The first series was sold in 1973 at a rate of 5 percent interest and the second in 1997 at a rate of 6.3 percent. The new series will carry a 4.76 percent rate, and there will be no charge for the changeover.
Norwalk Reflector Staff
Jul 25, 2010

 

NEW LONDON Council voted to refinance two water system bonds Monday, saving the village $139,000 in today's dollars over a 15-year period.

The first series was sold in 1973 at a rate of 5 percent interest and the second in 1997 at a rate of 6.3 percent. The new series will carry a 4.76 percent rate, and there will be no charge for the changeover.

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