Lease Agreement Refinance to Save County $300K
By West Kentucky Star Staff
PADUCAH, KY - The McCracken County Fiscal Court passed a bond ordinance Monday that will save taxpayers more than $300,000.

The ordinance authorizes the refinancing of a lease agreement with the Kentucky Association of Counties. The county sold bonds in 2010 to fund a few county projects, including the convention center renovation and the expansion of the jail.

Judge Executive Bob Leeper said refinancing will save the county more than $300,000 over a period of years.

"They were bonds that were sold to finance those projects, and so basically much like refinancing your house we're doing a refinancing of those bonds to get a lower interest rate," Leeper said. "We're always looking for money that saves taxpayers money every chance we get no matter how small or large."

Published 09:00 PM, Monday Sep. 11, 2017
Updated 05:08 AM, Wednesday Sep. 13, 2017

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