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Evansville bond bank debates raising 1.5% loan rate to preserve purchasing power
Summary
Board members discussed whether to change the bond bank's long-standing 1.5% loan rate, with some urging a modest increase tied to an index and others preferring a set internal rate or market-based bids; no formal rate change was adopted at the meeting.
Members of the Evansville Local Public Improvement Bond Bank debated whether to change the bank's long-standing loan interest rate, which has historically been 1.5%.
Several board members said the current rate is well below market and recommended increasing it modestly to preserve the fund's purchasing power. One member suggested setting a new internal rate tied to…
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