Refinancing sewer bonds will save city thousands of dollars
Suzette Lowe
Reporter
Many agenda items at the Dec. 1 Ripley City Council meeting required the input and expertise of city treasurer, Tom Armstead.
Council members Carolyn Waybright, Rick Buckley, Danny Martin, and Recorder David Casto, with John McGinley unable to attend, approved Armstead’s proposal to refinance the sewer bonds through the United States Department of Agriculture. The option will allow the 18 years left on the loan to be lowered to 13 years, with an interest rate decrease of one percent. Armstead estimates that the city will save $136,000 throughout the loan’s term.
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PARKERSBURG Some federal funds allocated by the cities of Parkersburg and Vienna to help businesses impacted by the COVID-19 pandemic have been awarded, but balances remain for each program.
Parkersburg Development Director Rickie Yeager told members of Parkersburg City Council this week that the Mid-Ohio Valley Regional Council, which is administering the city’s Small Business Relief Fund, has processed 20 applications and funds are being awarded to 13 applicants, with another pending.
That amounts to $82,688.60 in financial assistance from additional Community Development Block Grant funds provided through the C.A.R.E.S. Act passed earlier this year by Congress.