Renegotiated interest rate is financial boon for Lake Twp. ...Middle East

By Debbie Rogers [email protected] MILLBURY — Lake Township is starting to reap the financial benefits of an interest rate negotiation. At the last trustees’ meeting, Fiscal Officer Buddy Ritson said that interest rates are up to just over 3%. “It’s bringing an additional $80,000 into the township,” he said. “Our interest rate was .006%. I looked around in the market at what other interest rates were, and we were able to negotiate better terms.” Before the negotiation, the interest was about $200 a month or $2,400 a year, Ritson said. The new rate is “pretty substantial” for the township coffers, he said. “You did a good job of dealing with State Bank,” said Trustee Chairman Ken Gi

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