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.