Replacing a USDA loan with General Obligation Refunding Bonds is expected to save the City of Lamesa about $924,000 over the life of the bonds. That was the message delivered to Lamesa city council members before they approved the bond plan during their regular meeting Tuesday evening. Jake Lawrence with Government Capital Securities Corp., which is serving as financial advisors for the city on the project, said the city currently is paying about 4.0 percent interest on a loan it received from the USDA to help fund extensive improvements to the city water supply system. Replacing that loan with about $4.3 million in ...