The Kalona City Council approved a measure to refinance its debt structure on the town’s community center. This loan agreement is not to exceed $3,700,000. City Administrator Ryan Schlabaugh believes this restructuring will save the town money in the future,“With the bond market as competitive as it is right now, it lent itself to have us take a look at our debt structure on that particular building. There were some substantial savings to be had on the bond market.” He estimates it will save $350,000. The City of Kalona is also in the process of becoming an SNP rated community, which could help future bond acquisitions. City officials will meet with the SNP Monday, September 23.