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Monrovia Council to Consider Refinancing Bonds to Save About $200,000 a Year

At its next meeting ( ) the Monrovia City Council will consider ...

~ Refinancing at a lower interest rate the bond that paid for the new library to save about $2.2 million, or $105,000 to $110,000 per year for 20 years.

~ Refinancing some bonds from the old redevelopment agency bonds to save $1.8 million in lower interest rates over 20 years, or approximately $90,000 per year.

- Brad Haugaard


  1. I applaud the city for their efforts to save money. However, if the city is successful will any of these savings be passed on to the tax pays on our yearly property taxes?

  2. ^^^ haha! good one ^^^

  3. Why would you think that? The money will be used to pay for other things in the city like repairing the streets and sidewalks.