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Council votes to save taxpayers millions

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City council hopes to save taxpayers and city millions

Updated: Tuesday, 05 Mar 2013, 9:49 AM EST
Published : Monday, 04 Mar 2013, 10:41 PM EST

LAFAYETTE, Ind. (WLFI) - The Lafayette City Council moved forward in an effort to help save the taxpayers' money Monday night.

The council voted twice to refinance four bonds for certain city projects, lowering payments and interest rates for the city.

Mayor Tony Roswarski (D) said over the life of all these bond issuances, it will save the city and taxpayers nearly $2 million.

"That'd be like if you had a home mortgage and you were paying 6 percent on your money and now you could all of a sudden get 2 percent, you're going to refinance your house. So that's what we did to save the taxpayers' money and give us some more flexibility in the future," Roswarski said.

Also at Monday night's meeting, the Mayor awarded Laura Bartrum with a Marquis de Lafayette award for her work as the president of the St. Lawrence/McAllister neighborhood.

Plans also moved forward to build ramps on either side of the John T. Myers Pedestrian Bridge. The ramps are part of a bigger plan to renovate the bridge.

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