Williamson County Saves More than $25 Million on Refunding Debt

The Williamson County Commissioners Court heard a report Tuesday, February 2, that the County saved more than $25 million when it recently refunded more than $193.43 million in debt service. Dan Wegmiller with Specialized Public Finance reported that by refunding existing debt, interest rates were lowered from between 3% to 5% to between 0.612% and 1.196% saving the county $25,266,879.

Williamson County also affirmed its AAA bond ratings from both Fitch Ratings and Standard & Poor’s Ratings Services. The rating reflects the strength of the management of the county, strong local economy, and strong budgeting.

“Williamson County continues to experience strong economic growth. That combined with its conservative approach to budgeting and management has helped the County maintain its AAA bond rating. It is the AAA bond rating that allows us to take advantage of these incredibly low interest rates,” said First Assistant County Auditor Julie Kiley.

Since 2004, Williamson County has saved $57.5 million through paying debt off early and $103.3 million in interest costs through 18 refinancing opportunities.

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