County Commission Planning $82 Million Bond Issue; Includes Some Refunding Of Bonds

  • Wednesday, July 29, 2020

The County Commission is planning an $82 million bond issue that officials said involves refunding of some older bonds to get a lower interest rate as well as money for county projects that have been delayed.

Albert Kiser, county finance director said, if low interest rates hold, there should be a savings of some $4 million on the bond refinancing.

He said $65 million of the issue will be "new money" for projects and equipment for county public works and other departments, radio equipment and transmission towers.

It includes $17 million going to the county Water and Wastewater Treatment Authority. That money is to eventually be repaid to the county.

Officials said the bond issue for the county projects had been delayed since in the past issue there were more pressing issues for the county schools.

He said, "It's some stuff that has been on the back burner for a long time."  

The bonds are expected to be issued in early September and close at the end of that month.

Mr. Kiser said the county floats bonds for 15 years and is continually paying off past issues.

 

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