SPRINGFIELD, Mo. — City Utilities (CU) says it will be able to save $1.3 million each year for customers after refinancing its bonds.
In February, the City Utilities board approved a plan to refund its revenue bonds and issue new bonds with a lower interest rate, which Springfield City Council approved in March.
The new bonds were officially issued on June 18, and savings will begin in 2026. According to CU, they waited to finalize the issuance due to market volatility in the Spring.
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City Utilities was originally issued $615 million in bonds to construct Unit 2 at the coal-powered John Twitty Energy Center, and the bonds were eligible for refunding every 10 years…