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.

Leave a Reply

Your email address will not be published.