Pratt County to refinance PRMC bonds
The Pratt County commissioners and the Public Building Commission met and discussed normal business at their regular meeting June 7 at the Pratt County Courthouse. Some items of particular interest to the public were the refinancing of the hospital bonds and the progress on the building renovations and new construction.
The PRMC bonds, 2012 series and 2015 series, will be refinanced to take advantage of lower interest rates and money that has accrued from sales tax collections being better than projected. The combination of a large payment from savings, an earlier payoff date, and an interest rate below 1% will save the county approximately $1.5 million. The new payoff will be 2029 instead of 2032, and if sales tax collections continue at the current rate the bond may be paid off in 2027.
Renovations to the law enforcement building are continuing. The windows have been replaced in the sheriff’s department and the staff can feel the difference and expect to see savings on utility costs because of the upgrade. Windows for the jail and the doors are yet to be replaced.
New construction on the Pratt County Pubilc Safety Building continues to progress as the slab has been poured and visible work has begun on the structure.