Dresden board approves refinancing street light project
Dresden City Board members approved refinancing a street light project and approved a couple of appointments to positions in the city during a called meeting of the board on Monday night.
The board approved a resolution authorizing the issuing of capital outlay notes not to exceed $301,500 to refinance a current loan that was used to install streetlights along Highway 22. The capital outlay notes will refinance a 38-year loan taken out 14 years ago. The original loan was for approximately $500,000 financed with an interest rate of 4.75%.
(See complete story in March 25th edition of the Dresden Enterprise)