BOZEMAN, Mont. - Bozeman taxpayers will be saving $7.3 million after the city was approved for a smaller interest rate on a public safety center.
Last year, the Bozeman community approved a $36 million bond to pay for the city's new public safety center, which will hold city courts, victim's services, police, and fire.
Due to diligent budgeting, the city was approved for a smaller interest rate, cutting the amount taxpayers will have to pay every year.
Deputy Mayor Chris Mehl credits the hard-working city staff for staying on top of a balanced budget year after year.
"We make sound decisions," Mehl explains. "We haven't gone out on a limb, we haven't borrowed a lot of money. So when we do, we get a good rating because people see that we're able, as a community, to re-pay that. And that means that we save money."
The savings mean that the average family in Bozeman will be paying around $70 each year for the safety center, which is about $30 less than anticipated annually, for the next 20 years on the bond payment.