Avon City Council approved just over $40 million worth of bonds mostly related to refinancing and the bonding of notes and awarded bids for concrete and asphalt road work throughout the city at Monday’s regular meeting.

Several portions of the bonds were related to the Nagel Road interchange.

“We’ve got the program set for the bond issues. That was the big thing, to make sure that all got in on time,” Councilman Kevin Ward said. “We will find out in the upcoming weeks what are interest rates are. Hopefully, they should be very, very low. We have a high rating. Hopefully, we’ll save a lot of money on that.”

For the 2012 Road Program, Karvo Paving Company won the asphalt work with a total bid of $653,450.94 for its base and second alternate bids. It will cover repairs on Chester, Riegelsberger, Veterans Memorial Park Roadway and State Route 3, along with parking lot resurfacing on Schwartz and Veterans Memorial Park Roadway.

Fabrizi Trucking & Paving won with a bid of $90,987 for the city’s concrete road work on Evergreen Drive, Camelot Subdivision, Creekview Subdivision, Deerfield Drive, Century Lane and the Briar Lakes Subdivision.