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Splitting up borrowing will save city money
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MONROE - The city of Monroe expects to save an estimated $365,000 in interest payments by agreeing to split funds borrowed for capital projects and equipment between 2016 and 2017. Originally, the Monroe Common Council decided to borrow the total $14.225 million for high priority projects, including tearing down the municipal parking ramp and reconstruction of 8th Street. Upon recommendation of its financial advisors Ehlers and Associates, council members revised its borrowing methods.