URNRD refinances bonds on Rock Creek project

Russ Pankonin, Johnson Publications

Favorable interest conditions led the Upper Republican Natural Resources District to refinance the existing bonds sold for the Rock Creek Augmentation Project in southwest Dundy County. 

The board approved a resolution approving a refunding and re-issuance of bonds during their Dec. 4 regular meeting in Imperial.

Manager Jasper Fanning told the board the district will save about $2.15 million over the life of the bonds. 

Bond payments will drop significantly as a result of a combined interest rate of 3.315 percent on the newly-issued bonds. 

That represents a 30 percent  decrease in interest from the original issue, which carried  an interest rate of 4.738 percent.

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