File photo
File photo
The Village of Diamond will be saving money by refinancing its water and sewer bonds.
Diamond Mayor Terry Kernc was on WCSJ last week explaining the bond refinancing process.
"We believe we will be able to save $150,000 to $250,000, depending on how the bonds do once they are put out there," Kernc told WCSJ. "We have nine years left on our sewer bonds and actually had 11 years left on our water bond, so we reduced the water bond to nine years. They both will be done at the same time."
She then explained why the city was refinancing its obligation.
"Economy, sustainability and quality. That's why we put the five-year call on it so that we can switch over" Kernc told WCSJ. "We are very excited to be with this group and to be moving forward. Providing water from the aquifers is getting more and more difficult and it is extremely expensive. The EPA has a lot of regulations. We just think this will set us up for success."
Kernc says the Village Board approved the refinancing of bonds at its March meeting.
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