The Washington County Board of Supervisors are considering a possible refunds of jail bonds. During a work session held earlier this week, a presentation was given by Jeffrey Heil of Northland Securities about the bonds.
He says when the bonds were originally purchased, the interest rate was 4.47 percent, but now the interest rate has dropped almost a full two percent.
Heil says with the lower rates, the county has the option of locking those rates in, but per regulations from the Internal Revenue Service, they can only make this change one time per the life of the bonds.
If the Supervisors should decide to move forward, public hearings will need to take place in order to take advantage of the lower rates.