Williamson County Saves Nearly $6 Via Debt Service Refunds

WILLIAMSON COUNTY, TX -- County Commissioners Court members recently heard from staff how the county saved nearly $6 million via debt service refunds, officials said.

The savings occurred when the county recently refunded more than $39 million in debt service, Dan Wegmiller, with Specialized Public Finance, told the commissioners at the Aug. 2 meeting. He also told them that since 2004, the county has saved more than $72.7 million by refunding existing debt, county officials said in a news advisory.

Interest rates were lowered on the original bonds from an average interest rate of 4.99% down to 2.747% on the new issuance, officials noted. Williamson County also affirmed its AAA bond rating from both Fitch Ratings and Standard & Poor’s houses.

The high ratings reflect the strength of the management of the county, strong local economy, and strong budgeting, officials said.

“Williamson County has consistently received a AAA bond rating since June 2010, Williamson County Auditor David Flores said in a prepared statement. "It is this excellent rating that allows us to obtain the lower interest rates and save millions in interest for the citizens of Williamson County.”