Board votes to refinance sewer bonds

Local

Council gives preliminary OK to new property tax

Fort Wayne City Council members gave preliminary approval Tuesday night to a new property tax expected to raise up to $800,000 in new revenue next year.Tuesday

Fresh start at Smith Field

Fort Wayne-Allen County Airport Authority officials cut the ribbon on a new terminal building at Smith Field airport Monday.The new terminal, at 902 W.Tuesday

Righting a toppled icon

It could take hundreds of thousands of dollars and a year or more of repairs before visitors can have a picnic or take a family photo near the Helmholtz sculpture at Freimann Square, the Fort Wayne Museum of Arts executive director said Monday.Tuesday

FORT WAYNE – Like millions of homeowners, City Utilities is refinancing.

Board of Public Works members Wednesday voted to begin the process of re-issuing $28.8 million in sewer revenue bonds issued in four sets in 2002 and 2003 to take advantage of lower interest rates.

City officials estimate the refinancing, which will not extend the length of the payment period, will save more than $2 million in interest. The move must also be approved by the City Council.

For more on this story, see Thursday’s print edition of The Journal Gazette or visit www.journalgazette.net after 3 a.m. Thursday.

dstockman@jg.net