County’s Strong Credit Rating Saves Taxpayers in Recent Bond Refinancing

After a recent refinancing of $72 million in general obligation bonds, Galveston County has lowered its interest rate...

 

After a recent refinancing of $72 million in general obligation bonds, Galveston County has lowered its interest rate which will result in $6.6 million in savings over the next 11 years. The new interest rate for the refinancing bonds is 2.63 percent, a decrease from the current average of 3.85 percent.

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Source of Business and Labor Numbers: The Next Move Group