Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Finance Bonds topic
No spam. Unsubscribe anytime.
County staff advise commissioners of plan to call 2019 general‑obligation bonds early, projecting interest savings
Summary
County staff told commissioners they intend to call two series of 2019 general‑obligation bonds (county and airport) on Dec. 15, 2025. The county bonds total roughly $1.575 million; the airport bonds total $5.6 million. Staff estimated interest savings if called early.
County finance staff advised the Board of County Commissioners of Albany County that the county intends to call two series of general‑obligation bonds issued in 2019, which staff said would be called as of Dec. 15, 2025.
A county staff member identified as Tracy told commissioners that the county’s 2019 bonds were issued in the amount of $1,575,000 and covered a range of capital projects including IT infrastructure, a Range Arena purchase, detention center repairs and courthouse projects. By calling the county bonds early, Tracy said the county would save $65,302.50 in interest, which staff proposed could be redirected to project work rather than interest payments. Tracy described the pay‑off as six years early relative to the original 12‑year amortization schedule; no formal vote was required at the meeting because this was an advisory notice.
Tracy also advised the board that the Laramie Regional Airport’s 2019 bond series was $5.6 million and that calling that series early would save about $225,455 in interest. Tracy said the airport has completed terminal upgrades and that the interest savings could be applied to airport maintenance needs.
Commissioners were told no formal action was required for the advisory notices at the meeting.
