Written by Bob Balgemann
Refinancing $3.32 million worth of bonds, the remaining amount from the $9.3 million issuance in 1999 for jail construction and other projects, will save the county an estimated $377,000 in interest.
The repayment interest was reduced from 3.7 percent to 0.97 percent thanks to a AA bond rating …
The half-cent public safety sales tax, approved in 1999 for the jail project and others, is due to expire in 2018. It has generated more than enough money for the annual bond repayment, and sometimes elicited controversy as to how the overage should be spent.
Click on the following to read the entire article: Refinancing jail bonds will save Boone County $377,000 | Belvidere Daily Republican
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