Niles hopes to get low interest rate for sewer project

NILES — City Auditor Charles Nader said he hopes to get a low rate when the city borrows $2 million to finance repairs to the city’s interceptor sewers.

“It hopefully will sell for less than 2.5 percent,” Nader told members of council’s finance committee, which met earlier this week. Nader expects to have the ordinance advertising for bids on the notes ready for council by next week’s meeting.

It can’t come soon enough, said Randy Fabrizio, superintendent of wastewater treatment. “We have acute problems in the system,” he said.

The superintendent said the city should be able to enter into a contract by August and see the project completed by next March.