Refinancing deal could save county millions in interest

Posted on July 8, 2015

Fifteen years after the Taylor County Commission issued $17.2 million in bonds to fund the construction of the new Doctors’ Memorial Hospital building and equip the facility, the county still has $11.2 million in principal to pay off and 14 additional years on its payment plan.

And that is why the county agreed Monday evening to authorize its financial advisor to seek options to refinance the debt through a bank loan, potentially cutting a decade off the timeline and saving millions of dollars in interest.

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