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County oks refinancing to save $1 million in interest

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POSTED: August 17, 2013 5:00 a.m.

The Bryan County Board of Commissioners did more than vote on the millage rate at Tuesday’s meeting in Richmond Hill, but budgetary matters weren’t far from the surface for much of the evening.
For starters, commissioners approved a bond resolution they say will save taxpayers roughly $1 million over a 15-year period by refinancing $8.5 million in county debt with Ameris Bank.
The county is getting a fixed interest rate of 3 percent by refinancing a $7.4 million Georgia Environmental Finance Authority loan for water and sewer improvements and $1.1 million owed to the Association of County Commissioners of Georgia.
In addition, commissioners also approved a list of surplus items to be put up for auction, with the money going to the general fund to help reduce the burden on taxpayers, according to the county. The list includes everything from vehicle parts to computers.

Read full story in Aug. 17 issue of the Bryan County News. 

 

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