Financing Package For Chillicothe Street Project Approved
The Chillicothe City Council approved nearly $4.4 million dollars in financing for the Chillicothe street project. The financing over a period of 7-years at an interest rate of 1.375%. City Administrator Darin Chappell says this financing package gives greater flexibility in the repayment.
Chappell says the 7-year package has interest payments that are about $105,000 higher than the 5-year plan. He says the 5-year plan would leave the budget for the streets depart
ent very tight.