The City of Port Huron expects to be saving some money. Port Huron City Manager James Freed informed city council members about some savings they can expect from refinancing bonds that funded the multi-year sewer separation project in Port Huron. The City estimated that they would have a new rate around 3.15% when they refinanced. The City received seven bids back from banks looking to refinance those 2007 Sewer bonds. Key Bank came back with a bid of 2.58%. They result was significantly greater savings than anticipated. The city will save a total of $338,091 by refinancing, which is $135,786 more of a savings than they had hoped for.city will save a total of $338,091 by refinancing, which is $135,786 more of a savings than they had hoped for.
