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Independence bond move aimed at protecting general fund, basic services By Mike Genet mike.genet@examiner.net The Examiner The city of Independence will borrow $45 million to refinance several bonds for the Falls at Crackerneck Creek development, extending some bond payments by six years to 2051, but with the plan that bond payments should not divert funds from basic city services.  The City Council unanimously approved the deal Monday. The transaction has been in the works for well more than a year and much discussed at a handful of council meetings over the past several months, with in...

Independence Power & Light’s debt extensive, but considered stable Mike Genet mike.genet@examiner.net While the city of Independence recently paid off $10.6 million of Power & Light bonds about 15 years ahead of schedule, saving more than $4.5 million in interest payments, it still represents a small amount of the city utility’s total debt obligations. The $10.6 million, used from surplus cash, was part of what had been $151.5 million in outstanding bond payments through 2046, along with $91 million in future interest. Those bonds were issued to pay for a wide variety of projects, includi...

By Mike Genet mike.genet@examiner.net Independence Power & Light will use some of its surplus cash to pay off some bonds several years early, saving the city utility more than $4.5 million in interest payments. The City Council unanimously approved a payment of $10.6 million last week, covering the outstanding balance on more than $33 million of bonds issued more than 10 years ago for a series of maintenance projects. City Manager Zach Walker said the transaction pays off the bonds 15 years ahead of schedule. That decision was one of several the council made with long-term implications for IP...