Cerminaro: City of Utica Closes On Cost Saving Bond Refunding

In the face of a mounting budget deficit there is at least one sign of good news.

Utica City Comptroller, Mike Cerminaro, says the City has closed on a bond refunding, saving the city more than $1.1 million through 2026.

Cerminaro also says by refunding to a lower interest rate, it will reduce debt service expenses for the city's taxpayers.