Bond market settles in time to save Port $250,000

The Port Washington Common Council on May 5 approved a $2.9 million refinancing measure that will save the city more than $250,000.

Aldermen refinanced $1.68 million in marina bonds and $950,000 in general city bonds at an interest rate of 1.65% and borrowed another $300,000 to pay for a number of maintenance projects. 

Those projects include a roof for the street department garage, repairing the retaining wall at the police station, a trash rack on Valley Creek off Lake Street and engineering work for the Larabee Street stormwater retention pond.