Lufkin saves money with reissuance of bonds

Wednesday, November 2, 2011 - 10:24am

The Lufkin City Council voted Tuesday to approve the second reading of an ordinance authorizing re-issuance of $9.57 million in series 2011 general obligation refunding bonds.

The approval gives the city the go-ahead to refinance existing bonds from 2002 and 2003 at a lower interest rate.
City Manager Paul Parker said the city would save about $844,000 from the bond re-issuance.

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