Three financial institutions on Thursday morning bid on the right to refinance $28 million of Hamilton County Bonds.
The winning bid was made by BNY Mellon with an interest rate of approximately one half percent (0.54 percent).
Hamilton County Mayor Jim Coppinger says he is very pleased by BNY Mellon’s bid.
“This means by refinancing the final seven years of our initial 2013 bond issue we have saved taxpayers approximately $2 million.”
County Mayor Coppinger added, “This will be an excellent use of the people’s money. We strive every day to make the best use of the taxpayer’s funds. This will allow us to redirect these savings into other projects that will benefit Hamilton County residents.”
The bond refinancing should be completed in the next few weeks.