City will refinance bonds to save cash
The Rosemount City Council could save more than $200,000 by refunding some of its bonds. In laymans terms, the city will refinance some of its debt to get a better interest rate.
Finance director Jeff May told the council during a work session Oct. 13 that the main reason for doing the refundings is because of the market and lower interest rates available to the city.
"It could save a pretty significant amount of money," said May.