St. Albans council moves ahead on utility bond refinancing
ST. ALBANS, W.Va. St. Albans City Council members approved the second reading of a plan to refinance utility bonds that could save the city at least $146,000.Council members will hold a third reading and a public hearing May 6, when they are expected to approve or reject the refinancing, which would help with water system upgrades.A $2.5 million equipment upgrade to the water plant on B Street was the first phase of improvements.The second was an $8 million replacement of the oldest, most critical water lines throughout the city.After phase two, the city saved $600,000 toward the third phase, which includes the replacement of water lines on Pennsylvania Avenue and then the road being resurfaced.
With the refinancing, city officials expect to cut the interest rates on the utility bonds from 8 percent to 4 percent, Mayor Dick Callaway has said.Also Monday:* Council members agreed to pay $68,757 for a new rescue truck for the city fire department, which will replace an old truck.* The annual spring cleanup will be held from April 22 through May 3. The citywide cleanup is May 3, and items by individual ward will be picked up curbside from April 22 to May 2. For a detailed list of those pickups by day, visit http://www.stalbanswv.com/. * Callaway said that early voting for the city's June 1 general election will be held from May 17 to May 29 at City Hall.