City to Apply for Lower Interest Rates on Current SRF Loans

The City of Sheridan will submit a letter to the State Revolving Fund Loan program requesting lower interest rates. The authorization to submit the letter was recently approved by the City Council. City Utilities Director Dan Roberts said there are a total of 19 existing loans that are eligible for a lower interest rate.

Roberts said the financial benefit of the lower interest rates on the 19 existing SRF loans equates to a $1.3 million savings for the City.