Tuesday, January 31, 2012

Outagamie County Regional Airport (KATW) retires debt early. Appleton, Wisconsin.

$4 million in debt paid off five years early

Airport and county leaders hold a bond burning ceremony at the Outagamie County Regional Airport, Jan. 31, 2012.

GREENVILLE - Instead of burning money, Outagamie County is burning bonds.

A ceremony was held Tuesday morning at the Outagamie County Regional Airport to celebrate paying off $4 million in debt five years early.

In 2001, the airport underwent a $10.7 million terminal expansion project. To help pay for the project, the bonds were issued with a 15 year term.

By paying off the bonds early, airport director Marty Lenss says $234,000 in interest will be saved.

“Paying off this debt early assists us in keeping our rates and charges for our terminal tenants, including airlines, competitive,” said Lenss in a release.

The 30,000 square foot airport expansion added more seating and space for customers, as well as five aircraft boarding bridges.

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