Wednesday, February 8, 2012

County refinances bonds, saves some coin

In an effort to prove that he really does earn his paycheck and outdoes his colleagues on the city side of the Deathstar, Big “Michael Grider” Sexy this afternoon issued what might be his fifth spin release in as many days. (Or it might not be.)

According to the release, the county will save $1.43 million in interest payments during the next two years after refinancing some bonds this week. The savings beat expectations by more than $400,000.

Half the savings is supposed to benefit Knox County Schools, the spin job states.

I assume that's a message to the school administration, which is more than likely going to ask the county for millions more in folding paper this year.

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