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.