In a process started over a month ago by Council President Quinn (and Merchant Capital Inc.): and by soliciting bids (rather than using it's "usual" creditors) -- the City will save $218,000 by allowing Hancock Bank to re-finance its 1999 General Obligation Warrant-- at a lower interest rate. The full Council will vote on the matter at a later date when the paperwork is finalized.
At least one other Council member has already expressed some opposition to asking any "new" financial institutions to re-finance our City debt.
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