Refinancing of bonds for RS Fiber and The Lodge of Winthrop addressed

Refinancing of bonds for both RS Fiber and The Lodge of Winthrop were addressed at the regular meeting of the Winthrop City Council on Tuesday, September 8. Shannon Sweeney of David Drown Associates, Inc. said that after reviewing the current interest rates in the market for taxable bonds, they have found that a reduction in bond payments could see in excess of a $1 million saving in the 2015 GO Tax Abatement Bonds that were issued to fund the Joint Powers Board loan to RS Fiber Cooperative which has a remaining principal balance of $7,225,000.

For the complete story, check out the September 16 issue of the Winthrop News.