MT. VERNON — The city of Mt. Vernon is looking towards future economic development with the possible issuance of new bonds for capital improvement projects.

One of the projects that could be funded through the bonds is the 44th Street / Frontage Road expansion, which Mt. Vernon City Manager Mary Ellen Bechtel says is greatly important for the economic future of Mt. Vernon.

The bonds being looked at tonight at Mt. Vernon’s City Council meeting include refinancing bonds to save taxpayers close to $3.3 million dollars. With the savings from the refinancing, Mt. Vernon Finance Director Steven Tate says the $13 million in new bonds would only cost city taxpayers about $950-thousand over the life of the bonds.

On Monday’s meeting agenda is the first reading of the ordinance for issuing the new bonds.