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COMMISSIONERS REFINANCE LIBRARY BOND, SAVING TAXPAYERS MONEY

BOWLING GREEN, OH – September 27, 2017 – The Wood County Commissioners, Doris Herringshaw, Craig LaHote, and Ted Bowlus recently refinanced the bond that was used to finance significant capital improvements to the Wood County District Public Library.  The original bond was issued in 2002 and refinanced in 2007 with an interest rate of 5.5%.  The newly refinanced bond has a value of $2,665,000, and based on the new interest rate of 2.16%, Wood County taxpayers will save $441,996.  Bond payments will end in December 2027.

In 2001, voters in the library district approved a 0.041 mill, 25 year bond issue that generated $4,950,000 for the purpose of renovating, improving and adding to the existing main public library facility of the Wood County Public Library District, including equipment, furnishings, parking facilities and site improvements.  Michael Penrod, Director of the Wood County District Public Library stated, “Please let the Commissioners know how much we here at WCDPL appreciate all they do for us as our Appointing Authority AND as our Taxing Authority!  This savings for the taxpayer is awesome!”

For additional information, please contact Kelly O’Boyle, Assistant Wood County Administrator.

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