Volume 52, Number 30

ten pages

Byrdstown, Tennessee 38549 -- Thursday, July 23, 2015

Over $243,000 saved refinancing school bonds

Pickett County issued a $4,100,000 General Obligation School Refunding Bond, Series 2009 on Tuesday, March 31st. The purpose of the bond was to refinance the current County’s School Bonds, Series 1999 in order to save money.
In March 2008, the Pickett County Commission approved a resolution to look at refunding the school bond but due to the turbulent market decided to wait until another time.
In February 2009, the market became more favorable to refinance. Pickett County Executive Stephen Bilbrey and Director of Schools Diane Elder worked to get a bond rating which determines the interest rate.
The county was assigned a strong bond rating of “A” and was able to refinance the bond and save a total of $243,343.75.
The money saved will go into Pickett County School’s general fund.
Special thanks to Linda Crouch of Regions Bank and Richard Dulaney of Morgan Keegan for their help in obtaining the bond.

TOP STORIES

National Weather Service confirms F1 tornado in Pickett - By: Amanda Hill Bond, PublisherTennessee has seen a record number of nine Tornados for July and the ... Keep Reading

Commissioners vote to opt out of building codes - The Pickett County Commissioners met in regular session Monday, July 20th with all commissioners pre... Keep Reading

ndictments from Pickett County Grand Jury - The Pickett County Grand Jury met on April 27th and returned indictments for the following: two coun... Keep Reading