HRA bonds refinanced

The Washington County Board of Commissioners conducted a public hearing Feb. 7 to receive public comment on the issuance of general obligation bonds for the Washington County Housing and Redevelopment Authority. No one from the public commented during the hearing. After the hearing, the board authorized the pledge of general obligation of the county to the bond sale. The bond sale will be a refinancing of a portion of the HRA’s current debt, as well as the issuance of new energy conservation bonds. After reviewing the HRA’s bond portfolio, it was determined that it can achieve an estimated annual savings of $134,000 over the next 19 years by refinancing $13,500,000 of current bonds, which are and will continue to be backed by the county’s general obligation pledge. The hearing was also to receive comment on plans by the HRA to issue Qualified Energy Conservation Bonds for $2,375,000, with county general obligation backing, which is done to secure a lower interest on the bond. The first series of bonds will be used to refinance housing for 289 senior households and 60 non-senior households at the HRA’s seven properties.

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