TOWN OF RIDGWAY Town may act to lock in low interest rates
By Bill Tiedje
The Town of Ridgway may act quickly to lock in a privately placed, low interest 15-year bond for repayment of the town's downtown paving and infrastructure project, after hearing encouraging figures from Stifel Nichols bond consultant Steve Jeffers last week.
Although a maximum five percent interest, 20 year bond was approved by voters in April, lower interest rates, fewer reporting costs and the town's $500,000 Department of Local Affairs grant would allow a 15-year bond repayment schedule to meet the maximum requirements of the bond question.
"This is encouraging," said Ridgway Mayor John Clark.