Harlan saving $200,000 through bond refinance; approves G.O. bond bid

    HARLAN – The City of Harlan will save approximately $200,000 in interest costs by refinancing three of its current bond issues, and coupling them with a proposal to bond for fire department needs including a new fire truck and fire breathing apparatus.
    Bids were let last week and came in lower than expected, with Banker’s Bank of Madison, WI providing the low bid true interest rate of 0.8104 percent on the combined $3.85 million bond issue.  The $3.85 million includes the refinancing of three current city bond issues, as well $1.1 million for the new fire purchases and street work.
    Total interest cost on the 15-year bond is estimated at $165,385.76.