City of Midland ahead of schedule regarding road bond - KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: |

City of Midland ahead of schedule regarding road bond

(Source: KWES) (Source: KWES)

The City of Midland says they're ahead of schedule with the road bond.

City leaders at Tuesday's City Council meeting said they're ahead of schedule on the road work.

But the best part is they're under budget.

They calculated costs with a four percent interest but ended up getting an interest rate of 3.25 percent, saving taxpayers about $150,000 over the next 25 years.

"That equates to about a 10th of a penny savings in the tax rate to the taxpayers. So we're moving forward already realizing the savings because of the fiscal strength of our city. Our strong, unappropriated thumb balance and how we've always been fiscally responsible as a city council and as a city," said J. Ross Lacy, Midland City Councilman.

The council said you should see construction starting this spring. 

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