Record Low Interest Rates Offer Dane County Opportunity to Refinance Debt
on Capital Projects
Dane County Executive Joe Parisi announced today the county has an opportunity to take advantage of historically low interest rates to refinance a series of bonds that were issued to fund capital projects. The refinancing will save county taxpayers around $100,000 a year, Parisi said.
“Just like families are doing with their homes, we have a great opportunity to capitalize on these record low interest rates and save money,” Parisi said.
Parisi noted the nearly $15.7-million in bonds eligible for refinancing were issued in 2005 and 2006. They funded projects like extensive renovations to Dane County’s Juvenile Detention Center and the Dane County Job Center along with an upgrade to the Computer Aided Dispatch network utilized by the 911 Center.
A resolution authorizing the refinancing was introduced by the Dane County Board of Supervisors last night. If approved in the weeks ahead, the refinancing would be completed shortly thereafter.
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