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Sevier County moves to terminate interest rate swap agreements citing favorable market conditions
Sevier County Commission · March 1, 2026
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Summary
County financial staff recommended terminating certain interest rate swap agreements now because early-termination fees are low; the commission approved the action, noting an estimated but not final cost of about $400,000 to cash out the swaps.
Sevier County commissioners approved Resolution 2023-03-04 to terminate certain interest rate swap agreements held by the Public Building Authority, a move the county's presenter said is driven by a historically low early-termination fee in the market.
Joe Ayers told the commission that…
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