
Whole lot of saving going on
Amazon Prime Day shoppers weren’t the only ones saving money recently. Thanks to some hard work, smart timing and favorable markets, we have saved our sewer ratepayers nearly $25 million! Gary Robinson and Wolf Opitz of the Finance department saw that the current low interest rate environment provided an opportunity to refinance an existing long-term debt that paid for the wastewater treatment plant, and a small amount of road project debt. The refinancing got a great response from investors who saw the County’s excellent credit rating and reputation for sound financial management and flocked to buy the County’s bonds. Changes in interest rates help show the value of refinancing the debt, the interest rate on the larger sewer bond dropped from 4.91% down to 2.37%, and the road bond rates…