Kalona council addresses refinancing, FEMA

by Mary Zielinski

The refinancing of a loan agreement that will save Kalona more than $134,000 in interest payments was approved by the Kalona council Monday. The move, which refinances slightly more than $1 million in library bonds, provides for a 1.87 interest rate for the debt that will be paid off in 2024.

As part of the process, the council approved a tax exemption certificate and authorized a form for the agreement that continues the same procedures, changing only the rate.

The council also approved Change Order 4 for the A Avenue Bridge, providing for deductions from the $95,074 concrete costs and an $11,548 payment to the county for county engineering services for the bridge project.

Read the complete story in the Dec. 22 issue of the Wellman Advance.