Dickinson County Refinancing Bonds

Thu 8-25-2016

(Spirit Lake)-- The Dickinson County Board of Supervisors Tuesday took action to refinance a couple of bond issues to take advantage of lower interest rates.

One of the issues being refinanced is for five and-a-half million dollars in bonds left to be paid from the courthouse construction project. It's estimated the county will save nearly $298,000 in interest fees on that measure.

The other note being refinanced is in the amount of three million dollars from the East Okoboji Beach project. Savings in interest on that measure are projected at nearly $325,000. Plans are also in the works to decrease the life of that loan.

The county is working with bonding attorneys and a financial expert with Piper Jaffrey in restructuring the bonds.