New rate will save Monkton funds

Posted on August 11, 2011 |

• Monkton
• around the region

By Andrew Stein

MONKTON — The Monkton selectboard on July 25 announced that the bond taken out in 2002 to fund the 2003 fire station addition was refinanced by the Vermont Municipal Bond Bank at a lower interest rate. Meeting minutes indicated that this reduction in future interest payments will save the town money.

“Interest rate reductions don’t kick in until 2015 … so the refinancing will only affect the last two years of bond payments and will only … range from $700 to $1,000 in savings,” said Charles Roumas, town treasurer.

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