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Board of Supervisors Begin Bond Repurchasing Process

Posted: Wednesday, January 11th, 2012 at 6:29 am
Author: KCII News - Bill Gatchel


The Washington County Board of Supervisors have started the process for the purchase agreement for the county’s General Obligation Correctional Facility Bonds.  They are working with Jeff Heil of Northland Securities on this process.  Heil addressed the Supervisors at yesterday’s meeting and informed them that the overall savings to the county will be over $224,000.

He says the county is able to lock in a new interest rate of 2.16% which is more than half of the old rate.  The bonds which were originally purchased in 2006 are effective until 2026.  The county will start to see some of the savings in 2016.

The Supervisors also heard quarterly reports from Sue Rich about funds spent for Washington County General Assistance and Veteran Affairs.  Rich says over $3200 was given in general assistance and almost $1200 was spent on veteran affairs.

The Supervisors also approved the Certificate of Compliance for the county employee’s insurance policy.