Serving Gogebic, Iron and Ontonagon Counties

Hurley approves bond refinancing


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HURLEY — The Hurley City Council on Tuesday approved a water and sewer bond refinancing that is intended to save the city approximately $2.1 million from current bond rates through 2049.

The city’s current four water and sewer bonds from 2008 and 2009 total $7.5 million with an interest rate of 4.25%. The new 2.42% interest rate was revealed at the meeting.

Mark Deraney, a municipal bond advisor and vice president of AMKO Advisors in Fargo, North Dakota, was present with Harold Lance, an AMKO account executive with the Minneapolis office, who init...