Montgomery County Judge Craig Doyal announced Monday the county has officially sold its final round of bonds from the 2015 bond program and refinanced $26.9 million of the county’s current debt to save $1.9 million over the lifetime of the bonds.
Doyal said the county has a strong financial position and a high credit rating, making it possible to sell the bonds at a premium.
Last Thursday the county sold $86 million in road bonds, generating proceeds to fund the final road projects approved by voters in 2015 through the $280 million road bond package. This sale completed the road bond authorization nearly a year and a half sooner than the original projection without a tax rate increase, officials said.
“I am pleased that we have concluded the financing portion of the road bond program sooner than anticipated, and that our county commissioners are making good progress on their projects,” county financial adviser John Robuck said. “We are keeping our commitment to the voters to get these projects funded and finished. In addition, by refinancing we are saving taxpayer money.”
Learn more about the bond here.