Welcome to Skagit County

March 18th, 2005

COUNTY SAVES $692,000 BY RE-FINANCING BOND DEBT

Solid Waste debt to be paid off two years earlier than planned

SKAGIT COUNTY – Thanks to low interest rates and an excellent credit rating, Skagit County was able to refund 1996 General Obligation Bonds issued for Solid Waste purposes saving taxpayers $692,297. The County also issued new bonds for the purchase of vacant land adjacent the new Mount Vernon Family Resource Center.

“We are fortunate to be able to take advantage of low interest rates, and will continue to look for opportunities to lower costs,” said Trisha Logue, Skagit County Budget/Finance Administrator.

The General Obligation Bonds for the purchase of the land were issued at an average coupon rate of 3.52 percent, with the payoff due in 2013. The Solid Waste debt totaling $5,315,000 was refinanced at an average coupon rate of 3.55 percent, also with a payoff date of 2013, two years earlier than planned.

For further information, contact: Dan Berentson
Communications Director
360-419-3461