A longtime debt will soon come off the books for the City of Butler.
At their Thursday night meeting, Council approved a payment in the amount of nearly $224,000 to Computershare Trust Company for debt service connected to the City’s 2005 general obligation bonds.
These bonds were refinanced in 2005 but originally part of a nearly $3 million bond taken out in 1996 in order to construct the City’s Public Safety Building.
This final payment includes $220,000 in principal along with nearly $4,000 in interest. It is due March 1st but the city will pay as soon as possible.
Remaining debt service owed by Butler City totaling nearly $11 million includes money borrowed for the Center City Garage and the new City Firetruck as well as the Sullivan Run and Main Street improvement projects.
