Camdenton Alderman vote to approve next step in Bond Re- Fi

The Camdenton board of Alderman met last night to discuss the re-financing of a bond currently held by the city. John Harris of Country Club Bank aimed to persuade the board to move forward with at least the initial step of drawing up papers. This would be no guarantee of re financing the bond if the papers were to be drawn up, it simply will move forward to the next step. The bond purchased in 2004 will mature in 2024 and with 1.7 million left on the bond it could save the city 200,000 on interest over this duration. The board moved to go forward and proceed with the process, one that will have Harris come back and in detail explain the savings and interest to the board, before they vote to re finance.