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Travis County refinances its way to savings

Wednesday, July 27, 2016 by Caleb Pritchard

Travis County is touting a recent financial maneuver as a significant step toward saving taxpayer money. The county announced on Tuesday that it has taken advantage of historically low interest rates by refinancing existing bond debt. The move should create an estimated $12 million in savings through 2030. The county claimed it was able to achieve the low interest rates thanks to its triple-A credit ratings, which it has maintained with bond rating agencies Moody’s and S&P since 2001. “I am thrilled that Travis County is meeting its affordability goals by increasing cost savings for our residents,” County Judge Sarah Eckhardt said in a press release. “By refinancing already very inexpensive loans to Travis County, we save millions in taxpayer dollars.”

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