Wednesday, May 17, 2017

Treasurer's debt refinancing saves taxpayers $2.1 million over next nine years


News Release from Communications, Clark County, Wash.
Posted on FlashAlert: May 17th, 2017 4:53 PM
Vancouver, Wash. ??' The Clark County Treasurer's Office has refinanced debt on the Public Service Center and the Jail Work Center, a move that will save taxpayers $2.1 million over the next nine years.

Earlier this month, the Treasurer's Office refinanced $24.5 million in limited tax general obligation bonds that were used, in part, to build the Public Service Center. The new lower interest rate for the remaining nine years of the bonds will save $2.1 million. The debt will be retired in 2026.

The savings will go into the county's real estate excise tax fund for infrastructure improvements and the downtown campus development fund for maintenance on the Public Service Center and surrounding county buildings and property.

"My office constantly strives to find ways to be good stewards of the taxpayers' dollars, and I'm delighted we were able to reach this substantial refinancing savings by working with Bank of America," said Treasurer Doug Lasher.
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