City restructures bank note

May 27, 2021

The City of Comanche held a special meeting last Tuesday to restructure a banknote to take advantage of lower interest rates that will save the city money in both monthly payments and overall.

City council members met with representatives from the First National Bank in Marlow. The restructuring will save the city nearly $100,000 over the course of the loan term and translates to about $1,800 in savings on monthly payments.

The principal amount on the note is $1.4 million.