Town Council OKs $2.5M bond, capital improvement projects planned
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Eclectic town council

At Monday night’s meeting, the Eclectic Town Council voted to approve a general obligation bond in the amount of $2.5 million.

Mayor Gary Davenport said the town was able to secure the 20-year bond with an interest rate of 2.55%. The council hired Chris Williams with Rice Advisory LLC to help the town find its best option.