NEW BOSTON, Texas (KTAL/KMSS) – Commissioners in Bowie County took steps to save the area hundreds of thousands of dollars on Monday.
Officials signed documents to allow for the refinancing of some bonds at a lower interest rate. The bonds were issued back in 2011 to finance the widening of Highway 82 between Interstate 30 and DeKalb.
“It’s conservatively projected to save us $750,000 over the life of the bonds … that’s tax dollars that has to go pay the bonds, like refinancing your house. If you have a lower house payment, then you’re saving that amount of money,” said Bowie County Judge Bobby Howell.
The final cost savings will be known when the bonds are sold. Officials said documents signed on Monday set the parameters for the sale.