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Warrenton finance officer reports $2 million payment toward I‑70 interchange loan, projects earlier payoff
Summary
Finance Officer Megan Welder told the Board on Dec. 3 she paid $2,000,000 toward the Route I‑70 interchange loan, lowering the balance to around $2.5 million and projecting payoff by the second quarter of next year — about 11–12 years earlier than planned, saving an estimated $2 million in interest.
At the Dec. 3 Warrenton City Board of Aldermen meeting, Finance Officer Megan Welder presented the monthly financial report for October and reported a $2,000,000 payment toward the Route I‑70 interchange loan.
Welder said the payment reduces the city’s outstanding balance to about $2.5 million and that, with current plans, the loan is expected to be paid off by the end of the second quarter of next year — roughly 11 to 12 years sooner than previously anticipated — which she said will save the city more than $2,000,000 in…
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