JC Board approves refinancing loan
During a Special Juneau County Board meeting Monday morning, the Supervisors approved refinancing a 3.88-million dollar loan at a lower interest rate. The Resolution authorizes refunding the state loan borrowed in 2009 for the construction of the county highway building. The money was borrowed at a 5.5-percent interest rate, but the County also receives a 35-percent federal interest subsidy for a net rate of 3.57-percent. Stern Brothers has marketed the bonds to investors at a net interest rate of 2.69-percent, saving the county taxpayers $362,000 over the remaining 17-years of the loan.
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