December 17th, 2020 by WCBC Radio

Because of the pandemic, bond rates have dropped to near record lows, and many municipal governments are going back to the bond market with existing debt to get a better rate, and save hundreds of thousands of dollars.

 

At this week's Cumberland Mayor and City Council meeting, Administrator Jeff Rhodes said the Queen City wants to get in on the action, and wants council's authorization to proceed…

 

 

Initially, the city would only refinance $16 million, but that amount could go higher if the market is agreeable.