Supervisors are continuing to move forward with a debt consolidation plan that is expected to save the county around $400,000 over the next 10 years.
The board voted Monday to approve several resolutions related to the issuance of new bonds to consolidate existing debts and modify the way road bond debt is issued to save money due to currently low interest rates.
The move will consolidate the current debt into a single bond and provide for $2.5 million in new road bonds to be split among the five county supervisor districts. The new long-term road bonds will take the place of the previous practice of issuing bonds annually for each district.
They plan to move to a system in which bonds are issued at the start of each new term for supervisors and renewed every four years. Officials say the restructuring is all about efficiency and reducing the cost of debt on the county while maintaining the ability to provide vital services.