The Butler County commissioners seek to refinance some already borrowed money and then borrow some more funds to pay for upcoming projects.
The Butler County commissioners will vote next week on refinancing a 2006 bond, which could save the county an estimated $236,000 because of current low interest rates.
“We are in a position to refund the 2006 bond issue set up by a previous board,” Chairman of the board Leslie Osche said during a meeting Wednesday. “Interest rates are low at the moment for long-term borrowing.”
In addition, the commissioners would like to borrow several million dollars to pay for numerous capital projects…which include fixing the deteriorating exterior of the County Government Center and some water issues in the basement of the Courthouse. The government center work is expected to cost $4.5 million alone.
The county will need roughly $6 million to finance the projects. The county’s bond counsel will craft an ordinance (to be voted on next week) that would allow the borrowing of up to $10 million.
Not on this list of capital projects is a new 911 system for the county, which they will need within the next few years. That project will likely cost several million dollars.
