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Area Cities to Save Money On State Revolving Fund Loans

Posted: Saturday, June 29th, 2013 at 6:25 am
Author: Sally Y. Hart - KCII News

The Iowa Finance Authority and the Iowa Department of Natural Resources have announced that 114 communities in Iowa will be saving a total of $6.5 million in interest. The savings is possible because the current State Revolving Fund’s interest rate was reduced from 3-percent to 1.75-percent on June 1st. These loans are for water quality initiatives. The following area communities are included followed by the amount saved:

– Columbus Junction – $18,125
– Fairfield – $273,625
– Keota – $26,400
– Lone Tree – $10,062.50
– Sigourney – $44,262.50