County Executive Seeks Refinancing Capital Project Debt

Dane County Executive Joe Parisi said refinancing a series of bonds issued to fund capital projects could save county taxpayers about $100,000 a year.

In a news release issued on Friday, he attributes the savings to historically low interest rates.

“Just like families are doing with their homes, we have a great opportunity to capitalize on these record low interest rates and save money,” Parisi said in a statement.

The almost $15.7 million in bonds eligible for refinancing were issued in 2005 and 2006, Parisi said. They funded projects like extensive renovations to Dane County?s Juvenile Detention Center and the Dane County Job Center, along with an upgrade to the computer-aided dispatch network used by the 911 Center.

A resolution authorizing the refinancing was introduced by the Dane County Board of Supervisors on Thursday night. If approved in the next few weeks, the refinancing would be completed shortly after.