News and Announcements

Apr

22

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4/22/2015 2:44 PM 

On February 24, 2015, the Williamson County Commissioners Court approved a refinancing of $74 million in existing debt. Tuesday, the court learned their action resulted in a savings in excess of $9.2 million over the life of the debt.
Interest rates were lowered from 4 or 5% to 3.05% on the new issuance.  Savings were 7.457% in debt service reduction totaling $7.433 million. In addition to the $74 million, a taxable refunding of just over $29 million in debt also was refinanced down to 2.05% resulting in $1.8 million in savings.
Williamson County also affirmed its AAA bond rating from both Fitch Ratings and Standard Poor’s Ratings Services the last week of March. The rating reflects the strength of the local economy, financial performance, and management of the county.
“When looking at the debt that was issued over the past ten years, two key indicators are debt per capita and debt to assessed value. Those two indicators have remained fairly flat over the last ten years indicating the pace of growth in value and population have helped keep pace with the debt issued by the county,” stated Dan Wegmiller with Specialized Public Finance.
“Williamson County’s superb credit is able to deliver lower interest rates reducing our construction costs, and it also says that the county manages its debt responsibly,” said Williamson County Auditor David Flores.

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