City Manager Bruce Woody says the $190-million bond issue Saint Joseph voters will decide in February is really about interest rates. A yes vote would clear the way for significant interest savings.

Woody says a no vote would not mean getting out of state and federal mandates. He says the work must be done and paid for, one way or another, but with voter approval the city could qualify for interest rates as low as 1.6 percent. Without approval, rates could be as high as 4.5 percent.

Saint Joseph voters approved the first round of sewer bonds in 2011, which Woody says saved $32-million in interest. He says approval of this second round would mean interest savings of up to $57-million. The savings come directly off of monthly sewer bills. Voters will decide the issue February 3.