City to consider refinancing Fibrant funds

  • Posted: Tuesday, March 26, 2013 12:20 p.m.
    UPDATED: Tuesday, March 26, 2013 12:48 p.m.

SALISBURY — Salisbury City Council will hold a special meeting at 10:30 a.m. Thursday in City Hall to consider refinancing the 2008 Fibrant Certificates of Participation, a change staff said would save $1.9 million.

The city’s current interest rate on debt issued to finance Fibrant, Salisbury’s new broadband utility, is 5.11 percent. Since 2008, interest rates have reduced substantially, Assistant City Manager John Sofley said.


STI Institutional & Government Inc. has offered to refinance the outstanding debt at 2.24 percent, which would save $1,985,420, Sofley said.

Read more in Wednesday’s Post.

Notice about comments:

Salisburypost.com is pleased to offer readers the ability to comment on stories. We expect our readers to engage in lively, yet civil discourse. Salisburypost.com cannot promise that readers will not occasionally find offensive or inaccurate comments posted in the comments area. Responsibility for the statements posted lies with the person submitting the comment, not Salisburypost.com. If you find a comment that is objectionable, please click "report abuse" and we will review it for possible removal. Please be reminded, however, that in accordance with our Terms of Use and federal law, we are under no obligation to remove any third party comments posted on our website. Full terms and conditions can be read here.

Do not post the following:

  • Potentially libelous statements or damaging innuendo.
  • Obscene, explicit, or racist language.
  • Personal attacks, insults or threats.
  • The use of another person's real name to disguise your identity.
  • Comments unrelated to the story.