Continuously serving Kosciusko County since 1854
WINONA LAKE - The town council approved the introduction of a municipal bond issue for Grace College today.
The council will conduct a public hearing on the bond issue, not to exceed $7.4 million, at its Oct. 12 meeting. According to attorney Rick Hall, representing the college, the town will not be liable for the debt as a result of the bond issue, but will be simply the issuer of the bonds, to allow the institution to receive a lower tax-free interest rate.
"Grace would like to refinance some of the debt that they have, helping them retain 135 jobs and creating four new ones," Hall said.
In other business, the council approved repaving Sunset Drive, from Timber Lane to CR 250E, for an estimated cost of $50,000.
Clerk-treasurer Retha Hicks announced the town has received its certified net assessed value of $27,017,960.
