Jefferson County Commissioners

The Jefferson County commissioners on Tuesday approved an ordinance to rewrite the county’s debt, which includes a bond issue and several loans that are currently on the books. (File photo/The Punxsutawney Spirit)

 

BROOKVILLE — The Jefferson County commissioners on Tuesday approved an ordinance to rewrite the county’s debt, which includes a bond issue and several loans that are currently on the books.

Jeff Lynch, chief financial consultant, said that they have a team in place.

“Basically what we’re doing is restructuring the 2012 bond issue, we have three other notes: 2015, 2015-B and 2016. The objective is to reduce the interest so our debt service payments will be lower going into the next few years,” Lynch said.

Joe Muscatelli, a member of the finance team, said the county received its rating call from Standard and Poors and was rated A-plus.

“The lower the interest rate, the lower the cost of municipal insurance,” Muscatelli said.

He said an A-plus has about a $25,000 difference in cost from an A-minus.

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