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Vidalia board votes to refinance bonds
Published Wednesday, October 14, 2009
VIDALIA — The Vidalia Board of Aldermen voted Monday to refinance its sales tax refunding bonds at a rate that will save the city $55,000 a year.
The 18-year bonds were taken out in 1999 with the option to refinance in 10 years, Mayor Hyram Copeland said.
Concordia Bank and Delta Bank hold the bonds.
“We want to thank our local banks for working with us on these bonding issues,” Copeland said.
In other news:
4The board voted to approve the hiring of firefighter Corey Martin, who was hired Oct. 5.
4The board voted to proclaim Nov. 1 “Change your battery day” for the Vidalia Fire Department.
The reason for the proclamation was to encourage people to change the batteries in their smoke and carbon monoxide detectors, Fire Chief Jack Langston said.
4Street Department Director Lee Staggs announced that the new amphitheater cover had been erected on the Vidalia Riverfront.
Workers still have to build the stage, but Staggs said the first performance under the new amphitheater cover would be Friday night.
The new cover at the amphitheater is to replace the one that was destroyed during Hurricane Gustav.
Copeland said the $39,000 cover was paid for by the city’s insurance.
Comments
Posted by rushinghjr (anonymous) on October 14, 2009 at 9:35 a.m. (Suggest removal)
Good Management and Accountability!
Posted by beammeupscotty (anonymous) on October 14, 2009 at 2:07 p.m. (Suggest removal)
rush, they are trying to stay above water.
Posted by jammin1 (anonymous) on October 14, 2009 at 4:38 p.m. (Suggest removal)
The interest rate for the first 10 year bond was over 5%. The new one was reduced to 3%. That is a good move on the part of the city. Vidalia's finances are in no trouble of any kind.
So rushinghjr is right! Good Management and Accountability!
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