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Next Step Taken Toward General Obligation Bond Refunds

Posted: Wednesday, November 16th, 2011 at 6:30 am
Author: KCII News - Bill Gatchel

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The Washington County Board of Supervisors have started the process of refunding the County’s General Obligation Bonds.  A public hearing was held regarding the option of locking in the bonds at a lower rate.  The bonds were purchased in 2006 with an interest rate of 4.47%.

A chance to lock in a lower interest rate can only be done one time per the life of the bonds.  The savings to the county could be over $150,000 if new rates have been locked in.

The maximum amount of the bonds is over three million dollars.  The county will be working with Northland Securities during this process.