Jefferson County Debt Refinancing Set To Save Taxpayers $850,000

Jefferson County Commissioners Paul Corbin James McIntyre Jeffrey PisarcikBROOKVILLE, Pa. (EYT) – Jefferson County has taken the last of three recent steps to refinance its debt – moves expected to save county taxpayers over $850,000.00 during the life of the agreement.

Jefferson County Commissioners Paul Corbin and Jeffrey Pisarcik August 11 approved a resolution to incur debt in a general obligation note in the amount of $1.75 million. Commissioner James McIntyre was absent.

This move was necessary to comply with federal laws while still setting the stage for the maximum possible savings by allowing for the later conversion of the taxable note to a non-taxable equivalent.

The commissioners took other necessary actions for the refinancing and discussed the matter at length during their July 15 meeting.

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