Boone County Refinances Bonds, Saves $170,000
COLUMBIA - Boone County Treasurer Nicole Galloway announced a refinancing of $2.2 million in revenue bonds Tuesday. The county was able to make the move thanks to an affirmation of its bond rating from Moody's Investment Service late last February.
Galloway said the move will save county government an estimated $170,000 in principal and interest payments over the next six years.
The county issued the now-refinanced bonds in 2003 to pay for work at a variety of locations, including the Health Department, Juvenile Justice Center and Boone County Government Center.
The refinance will lower the interest rate on the bonds from its original 3.83 percent to 1.66 percent.