News

Refinancing saves $147,000

By Bill Moss, Published: June 29, 2012

Henderson County taxpayers will save $37,534 in 2012-13 and $147,000 over seven years on a 1999 construction loan thanks to a refinancing negotiated by county finance officer Carey McClelland.BB&T agreed to lower the interest rate for the $3.2 million balance from 3.64 to 2.47 percent, McClelland told the Board of Commissioners last week. Originally made in 1999 to build the Henderson County jail, the loan was refinanced three years ago when interest rates dropped. McClelland approached the bank again about refinancing the loan again because rates dropped further.