Tuesday, February 7, 2012
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Gwinnett Daily Post
WINDER -- City Finance Director Leslie Henderson, in her monthly financial report to Mayor David Maynard and city council, reported Tuesday that the city's municipal bonds have been refinanced at a lower interest rate. The move will save Winder $1.24 million over the next 17 to 18 years.
Tom Owens, vice president of Investment Banking at Morgan Keegan and Co., worked with city staff to facilitate Tuesday's bonds sale. "The interest rate on the outstanding loan was 4.15 percent. It's 2.75 percent on the new loan," Owens said, adding that the loan will mature in December 2029. "The debt was not extended at all."Hope for a Cure race scheduledThe sixth annual "Hope for a Cure" 5K race, an American Cancer Society event, has been scheduled for March 17 in Winder. The race will begin and end at Russell Middle School.