SOUTH WEBER — City Manager Rodger Worthen maintains that by refinancing the current sales tax revenue bond they borrowed in 2004 from 4.7 percent interest to 3.05 percent, the city will save approximately $40,000.
The city has 17 years left to pay on the loan, but Worthen believes the city can decrease that time to 15 years.
Even though it will cost around $30,000 to refinance, the city will still save substantially.
Mayor Jeff Monroe wants to get an approval on Worthen’s refinance plan in January.
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