The East Bethel City Council on Feb. 5 approved issuing bonds to refund the city’s 2010 general obligation utility bonds for a future savings of $1.5 million, which is about $220,000 more than expected, said Stacie Kvilvang of Ehlers & Associates.
The East Bethel City Council Dec. 4 voted 4-1 to approve the final 2014 budget and then voted unanimously to approve the 2014 tax levy. At a total of $5,126,950, the levy will be 15.1 percent higher than the 2013 levy because the city must start making payments on its bonds for the water and sewer project next year.
The East Bethel City Council voted 4-1 Nov. 20 to pursue issuing $5,525,000 in general obligation bonds to refund $6,100,000 in Series 2010B Build America Bonds for an anticipated savings in interest expenses of $1,305,000 over the next 26 years.
In its ongoing effort to find a way to keep the city’s tax levy from increasing at all in 2013, the East Bethel City Council may actually end up with a levy amount that is less than the current year’s.