According to the county, the financial benefits include an aggregate net present value savings of $857,586
VANCOUVER – Clark County Treasurer Alishia Topper announced the county closed on the refinance of three Limited Tax General Obligation Refunding Bonds and executed two additional early payoffs. The transaction was completed on July 14, 2022.
According to the county, the financial benefits include an aggregate net present value savings of $857,586. In addition, the refinancing allows the county to continue receiving state sales tax credit revenues for another 15 years to fund public facilities district capital projects, estimated revenues totaling upwards of $30 million.
“The Clark County Treasurer’s Office finance team manages debt on behalf of the county and we are pleased this refinancing saves the county and taxpayers monies. I am proud of the work of my chief deputy treasurer Sara Lowe for finding this opportunity,” Topper said.
|Component||%NPV Savings||$NPV Savings|
|2022A (Pepsi Building)||5.13%||$64,384|
|2022B (Health Center)||3.99%||$556,861|
|2022C (Expo Center)||1.72%||$183,747|
|Cash Redemption – Conservation Futures||2.10%||$43,678|
|Cash Redemption – Campus Development||1.29%||$8,916|
|Aggregate NPV Savings||2.99%||$857,586|
To learn more about how the county treasurer manages debt visit https://clark.wa.gov/treasurer/debt-management-1.
Information provided by Clark Co. WA Communications.
Article Source: Clark County Today