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Monday, January 10, 2011

Special City Council Meeting--Marina Bonds

At 8:00 am on Tuesday, January 11, 2011, the City Council will hold a Special Meeting to discuss and possibly take action to set a public hearing for Issue of Bonds to refinance the current Marina Bonds.
The Marina currently has about $300,000 in bond debt. 

The City is considering refinancing this debt to help solve cash flow problems associated with the Municipal Marina.  The debt was incurred in the 1990's and 2000 when the Marina was attracting many more boaters that we see now.  The debt would be spread over a longer period, but at a lower yearly payment amount which the Marina's current revenue will support.

If you have questions about this issue or wish to express an opinion, please come to the special meeting, or send an email to me at mslown@rogerscity.com or to the City Clerk, Terri Koss tkoss@rogerscity.com

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