City Hopes to Save $100,000

BOONE, Iowa---The Boone City Council has approved moving ahead with a plan to refinance sewer revenue debt, incurred from the State of Iowa's revolving loan fund.  Some of the debt actually dates back to the construction of the sewer plant in the mid-90's.  Boone Mayor John Slight says it won't be a typical bond sale to refinance the debt, but will be put together by financial consultants.  Slight says the savings to Boone residents will be the effort to hold the city utility rates in place.  It's not known when a final package could be completed, but the Council approved refinancing up to $5-million of debt.