You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Local

  • Taylor, Brooklyn lane restrictions to begin
    Lanes along Taylor Street and Brooklyn Avenue will be restricted between 9 a.m. and 3 p.m. beginning Monday, the city of Fort Wayne said today.
  • GIVING LIST
    The following nonprofit organizations responded to a Journal Gazette request for charity wish lists. We will list additional charities in Saturday and Sunday editions of The Journal Gazette.
  • Braving chill for deals
    If you want to know where the Black Friday lines were on Thanksgiving, just call Brendan Pierce.
Advertisement

Library refinances bond, saves $364,266

– The Allen County Public Library will save more than a quarter of a million dollars after refinancing outstanding bonds at a lower interest rate, officials said.

The bonds were issued from 2001 to 2005 as part of the library’s $64 million expansion.

The 2003 bond that will be refinanced was sold Wednesday and closing will take place in the next few weeks, the library’s board of directors was told Thursday.

The library was charged interest rates ranging from 4 percent to 5 percent on the $12.4 million bond, finance manager David Sedestrom said.

The remaining $10 million balance will be refinanced with an average interest rate of 3.8 percent, resulting in a savings of $364,266. The bond will mature in 2017, Sedestrom said. The library renovation-expansion project was completed in 2007.

vsade@jg.net

Advertisement