Maryville City Council Notes

–Approved an Ordinance Authorizing the Issuance of $11.535 million Principal Amount of Combined Waterworks and Sewerage System Refunding Revenue Bonds, Series 2019 and Certain Other Actions and Documents.  The refunding opportunity follows outlined procedures in the City’s debt policy and will result in present value savings of more than 3%.

The motion will save the city $1.7 million over the life of the bonds (through 2033).  The new rate is 1.97% from 3.90%.