At their meeting last night, Wooster council members unanimously approved a measure that will allow the city to issue up to $17 million in bonds. In an effort to take advantage of lower interest rates, the city will refinance four previously issued bonds, which could potentially save Wooster roughly $1.5 million in interest payments over the next 19 years. In addition to refinancing the four older bonds, the city will also issue three new bonds that will fund several projects scheduled for later this year.
Wooster City Council agrees to refinance $17 million worth of bonds
