Million dollar bond retired early

Posted 8/20/20

The Lewisburg Water and Wastewater Department celebrated the early retirement of a $1,360,970 bond issue at their monthly meeting on Tuesday. “Our goal, with the board’s help, is to reduce the long-term debt. Every manager in every department has done a great job watching our costs and expenses closely,” said General Manager Trigg Cathey...

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Million dollar bond retired early

Posted

The Lewisburg Water and Wastewater Department celebrated the early retirement of a $1,360,970 bond issue at their monthly meeting on Tuesday.

“Our goal, with the board’s help, is to reduce the long-term debt. Every manager in every department has done a great job watching our costs and expenses closely,” said General Manager Trigg Cathey.

In 2013, the utility had $19 million in outstanding debt. The early pay-off of these bonds reduces the system’s debt load to less than $13 million.

Pictured from left; Cathey, city council representative on the board Nicholas Tipper, and water board members Joe Harris and Bill Marsh.

Photo submitted