City about to be debt-free
On Sept. 15, the City of Eunice will be out of debt, redeeming the recreation complex bonds on that date, 10 years ahead of schedule.
The City Council approved the call for redemption at its August meeting last Tuesday, approving using about $1.4 million in cash and $250,000 in sinking fund and reserve fund deposits to pay off the debt.
The action will save the city about $442,000 in interest payments otherwise due over the remaining 10 years of the debt.
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