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Council amends airport refinancing, keeps 2.58% interest after debate
Summary
After a motion to reconsider, the Lewiston City Council approved an amended order refinancing a loan to the Auburn Lewiston Municipal Airport by extending the term but retaining a 2.58% interest rate; the final vote was 4–3.
The Lewiston City Council, after a lengthy public and council debate, voted to approve refinancing a municipal loan to the Auburn Lewiston Municipal Airport with an extended repayment term but — after amendment — keeping the original 2.58% interest rate.
Background and motion: Councilors first voted 5–2 to reconsider an earlier action on the airport loan. The forum then debated an amended order to extend the loan term to reduce annual payments while preserving interest. Councilor Chittum moved an amendment to retain the initial 2.58% interest rate; that amendment…
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