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Ocean County adopts refunding bond ordinance; officials say refinancing will save about $1.5 million total
Summary
The Board adopted a refunding bond ordinance to refinance portions of the county's Series 2015A general obligation refunding bonds. County comptroller said the refinancing will reduce interest costs by about $500,000 per year for three years, a savings the county cited when introducing and adopting the measure.
Ocean County commissioners on Aug. 20 adopted a refunding bond ordinance intended to lower the county's interest costs on previously issued general obligation refunding bonds.
Julie N. Tarrant, county comptroller, told commissioners the transaction is comparable to refinancing a home mortgage and will produce interest‑cost savings. "Well, this Refunding Ordinance will actually save the county money on the interest we pay for our bonds,"…
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