Kane County seeks to refinance bonds, save $2.7 million
GENEVA – Kane County’s government is hoping persistently low interest rates will save a chunk of change in coming years.
Thursday, the County Board Finance Committee recommended the full County Board approve an ordinance that would allow the county’s bond counsel and advisers to move ahead with plans to refinance a portion of the county’s debt.
Under the proposal presented Thursday, the county, under the guidance of its advisers, Speer Financial of Chicago, would put out to bid two bond series. Issued in 2002 and again in 2005-06, the bonds were used to finance the construction of the county’s Juvenile Justice Center and the county jail.
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