Commission refinances bonds to save money

Published 9:14 pm Monday, September 24, 2012

The Chilton County Commission voted Monday to refinance two bond issues in a move expected to save more than $290,000.

The commission took out the gas tax bond issues in 2006 and refinanced them at a lower interest rate.

Brian Spear with The Frazer Lanier Company helped the commission with the process and spoke at the meeting Monday about the county’s lack of debt other than the two bonds.

“Hats off to this commission,” Spear said. “You’re to be commended for that.”

The commission holds a 7-cent gas tax bond in the amount of $2.86 million and a 4-cent gas tax bond for $2.27 million.

Before Spear addressed commissioners, they heard from Scott Missildine, director of the Chilton County Humane Society, about the shelter needing more funding.

“We need to do everything we can to help these folks out,” commissioner “Red” Turnipseed said, and he and the other commissioners said they would take the shelter’s needs into consideration when drafting a budget for the coming fiscal year.

The commission also opened bids for piping, timber, liquid asphalt, janitorial supplies, road striping, gasoline and diesel fuel. The bids were turned over to the appropriate department heads for review.