Mayor Bill Ketron proudly announces the County’s recent savings of over $3.9 mil. According to Finance Director Lisa Nolen, last week the County refunded part of its general obligation debt issued in 2012 and 2013 for school and general capital projects with a taxable debt issue. The true interest cost was 1.3173%, resulting in debt service savings to the County totaling $3,970,632. Nolen explains that “refunding debt” is similar to refinancing a home mortgage with the goal of reducing your house payment.
“Rutherford County is committed to providing the best and most professional services to our community, while being as fiscally responsible as possible,” said Ketron. “We are very pleased with the outcome of this transaction.”