County supervisors are moving forward on a bond refinancing plan that is expected to yield significant cost savings.
The board on Monday adopted a resolution and took other action needed to proceed.
“We’re fairly confident right now,” said Sam Keyes of bond counsel Butler Snow, but “you never know what’s going to happen with the market.”
Re-funding of the 2015 general obligation bond is projected to save $249,000 over the life of the bonds and $86,000 in the next year.
The total of the 2015 bond issue was $7.1 million.
Keyes said the move should “free up some cash flow for other projects” in the county.
In other business:
Sheriff Ben Caldwell informed the board that longtime sheriff’s department employee Patricia Pierce is retiring effective Dec. 31 after 25 years of service. He said the department is sad to see her go, and she has made a rare achievement in putting in 25 years with the department. Pierce has served as bailiff for Alcorn County Circuit Court and also sometimes for chancery court and youth court. She also serves process.
Pierce joined the department in 1995.
Farmers and Merchants Bank was the winning bidder for the county depository at 0.251 percent. The only other bid was from Trustmark Bank at 0.1 percent.
With coronavirus relief funding, the board approved the purchase of four desktop computers, two laptops and related equipment at $20,795.16 for the chancery court to use in conducting hearings via web conference.