Sykesville plans to borrow $1M
By Bryan Schutt, Times Staff Writer Wednesday, May 28, 2008
SYKESVILLE — Taking advantage of the current economic slump and low interest rates, the Town Council is refinancing about $600,000 of debt and plans to save about $64,000 in the process.
Town Manager Matthew Candland said Sykesville will also borrow an additional $500,000 for capital projects. The total amount the town is looking to borrow will be slightly more than $1 million.
[…]
(Town Treasurer Irma Bast) said the loans the town are refinancing have interest rates varying from 5 percent to 6.5 percent. The new loan will have an interest rate of 3.46 percent, Bast said.
Read the entire article here: Sykesville plans to borrow $1M
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