Carey To Save Money On Financing For Substation

12/4/18 – 5:18 A.M.

Efforts to refinance a new multi-million-dollar electric substation on County Highway 96 in Carey should save the village some money. Council members learned on Monday the interest rate for the bond will be 3 percent in 2019. That will save Carey around $39,000 on financing for the more than $4.8 million project.

Council learned the village had received approval for an American Municipal Power bond-anticipation note. An Ohio Market Access Program application also had received approval for the project.

MORE: Carey seeks funds for construction of a sanitary sewer lift station