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.