The Flathead County commissioners have signed a final resolution to refinance the bond for the 911 Emergency Communications Center, a move that will save the county about $334,000 in net present expenses over the remaining 10 years of the 20-year bond.
Taxpayers narrowly approved a $6.9 million bond issue in 2009 to finance the construction of the 911 consolidated dispatch center.
Flathead County Commissioner Randy Brodehl said the county wanted to refinance in order to take advantage of the current lower interest rates, stating how “as a commission, we are always looking for ways to save the taxpayers money,” according to a press release.
There’s just over $4 million left to pay on the bond issue. The bond refund is scheduled to close today, May 7. It will have a 3 percent interest rate for the next seven years and 4 percent for the remaining three years. Brodehl said the county’s AA bond rating helped secure the lower interest rates.
With the payoff of a heating, ventilation and air-conditioning upgrade loan in December 2018, the 911 center is now Flathead County’s only debt.