Joey McLiney is working with the City of Chillicothe on securing the bond financing for the police facility project. He presented the city with a few options at Monday’s meeting. The first was a list of bond attorneys for the project. The City chose to go with Gillmore and Bell, who they have used with several previous projects. The cost is estimated at $52,000.
They also considered the term of the bonds. McLiney presented options for 20 years and 25 years and the advantages of each. The council chose the longer term with a better rate. That also allows the city to consider refinancing the bonds after 5 years.