Video: Aberdeen Selectmen Mull Refinance Proposal
ABERDEEN, Miss. (WCBI) — Aberdeen may be able to save its taxpayers some money.
Aldermen heard a proposal Tuesday night to refinance the city’s long-term debt in hopes of getting lower interest rates. Aldermen plan to take other proposals before going forward.
The city’s auditor recently recommended the move, noting the city possibly could get lower rates that would save money on long-term interest. It also might better restructure payment plans.
The city has United States Department of Agriculture (USDA) loans for water and sewer improvements and bonds for street paving that could be refinanced.