Nashville To Save $70K With Bond Refinancing

The Nashville city council has approved refinancing a bond for the 2005 sales and use tax.

A representative of the Friday, Eldridge and Clark firm in Little Rock presented the proposal to council members Monday evening. Before the vote, the city was paying an interest rate of 3.8 percent. With the refinancing approved Monday, the rate will lower to 1.85 percent.

Mayor Billy Ray Jones says the change will result in a savings of 70 thousand dollars for the city in the next ten years.

The new bond will mature on November 1st, 2030.