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County bond moves address parks, savings

POSTED: April 20, 2013 12:10 a.m.
 

Forsyth County issued one series of general obligation bonds and refinanced some revenue bonds on Thursday.

Commissioners voted 5-0 to draw down the remaining nearly $17 million of the $100 million parks, recreation and green space bond approved by voters in February 2008.

The funding is anticipated to go toward the Big Creek Greenway extension, the future Lanierland and Matt Community parks, as well as other earmarked recreation projects.

The commission also unanimously approved a refinancing of two series of bonds for the water and sewer department from 2005 and 2007 for $27.4 million.

The anticipated savings total about $2 million, representing a 6.91 percent reduction over the life of the bonds, said David Gruen, finance director.

Gruen noted the interest rate received for the entire issue was 2.35 percent.

The refinancing will also reduce the water and sewer fund debt service budget by about $154,000 annually, he said.

 

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