Salisbury Announces Bonded Debt Savings - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Salisbury Announces Bonded Debt Savings

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Presentation of the Bonded Debt Savings Plan in Salisbury (WBOC) Presentation of the Bonded Debt Savings Plan in Salisbury (WBOC)

SALISBURY, Md.- Mayor Jake Day and the City of Salisbury announced Thursday a savings of $1.6 million for taxpayers in Salisbury. The announcement is a a part of the city's bonded debt savings plan. 

For the last several years Day said the city has looked into ways of refunding taxpayers a portion of its debt. Day said this was made possible by securing public refinancing on the city's bonded debt at a 1.55% finance rate.

Day said these savings translate into more re-investments into new and stalled community projects. 

"Your going to see us take on projects that we otherwise wouldn't. For example, last night I was at our bicycle pedestrian advisory committee meeting, they're moving forward with projects that we started years ago, but there wasn't really the implementation monies," Day said. 

Day said the savings in taxpayers dollars will be realized over the next two years. 

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