City Gets Good News on Planned Bond Sale

City Gets Good News on Planned Bond Sale

Danville Mayor Rickey Williams Jr. says it appears the city will be able to save more money than originally thought by refinancing some old bonds.  And the Mayor adds there is more good news.  He says the city’s bond rating has improved….

[‘’Now we’re at Triple-B, and instead of having a negative outlook we also have a positive outlook.  If we’re able to refund both bonds – for the 2007 bonds we’re looking to save around four to five-thousand dollars.  However, for the 2009 bond we’re looking to save closer to $180-thousand dollars.  We originally were only projecting to save about $85-thousand dollars,’’ said Mayor Williams. ‘’So this is a huge, substantial savings on that,’’ he added.]

The mayor was commenting following a city council committee meeting last night (Tuesday, December 10, 2019).

Mayor Williams also told council members to bring their budget binders to next week’s meeting so discussions can begin on the new city budget….

[‘’More than anything else, I’m just going to highlight a few updates for them at this time.  Changes that we’ve made also because – thank God – we had the 10-percent insurance savings,’’ said Williams. ‘’That’s going to change and help us put even more money toward our reserves.  So I just want to give them some information on where we are.’’]

The council’s regular meeting is scheduled for 6:00 p.m. Tuesday, December 17th….immediately following a special meeting focusing on Carle’s proposed new $70-million dollar Danville campus.