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Board approves moving forward to refinance Washington County water revenue bond
Summary
On June 7 the Board voted unanimously to proceed with refinancing the county's Water Revenue Bond; Davenport & Company indicated audits are up to date and fees for the transaction will not exceed $69,500.
Washington County Commissioners voted on June 7 to move forward with refinancing the county’s Water Revenue Bond.
County financial advisors from Davenport & Company attended the meeting. Ted Cole told the Board that audits had been reviewed and were up to date with no findings and that transaction fees “will not exceed $69,500.” County Manager Curtis Potter said staff was comfortable with proceeding and that the bank’s penalty for early payoff might be waived.
Commissioner Carol Phelps moved to proceed with the refinancing; the motion passed unanimously on a roll-call vote.
Outcome: The Board authorized staff to move forward with the water revenue bond refinancing; staff will complete the borrowing process and incorporate fees into the financing as presented.
