Saving Tax Payer Dollars

POSTED BY: Katie McGraw
Monday, October 21, 2013 - 05:13 PM
Saving Tax Payer Dollars

The Muskingum County Commissioners met with their legal council Monday morning to discuss two ways to save tax payers money.

One way the county can help area resident's wallets, is to do a refunding of existing bonds by issuing new bonds, that acquire lower interest rates and achieve savings.

"So it means their debt service payments, in future years, will be less than it would have been with the old bond issues,” Muskingum County's Bond Attorney, Stephen Grassbaugh said. “That was the primary reason we came by."

The second reason the Columbus based attorneys visited the three commissioners, is to be sure the county has post issuance policies in place, that adhere to state and federal law.

"Which means making sure that the facilities that were financed with the bond proceeds, are still being used as they were originally intended to be used or if there is a change condition by the county, that they tell the wards about it. "

The commissioners will adopt these policies and procedures this week or next.

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