City Realizes $500,000 in savings
The City of Indianapolis announced the realization of approximately $500,000 in savings as the Indianapolis Bond Bank priced $126.2 million in tax anticipation notes at a rate lower than projected for the 2009 budget.
The notes for the City, County and the Marion County Public Library were priced at a 1.15 percent annual yield, well below what the City Controller assumed in the 2009 budget projection. The lower-than-expected interest costs presents savings across program areas.
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