County closes on the refinance of three Limited Tax General Obligation Refunding Bonds

County closes on the refinance of three Limited Tax General Obligation Refunding Bonds

Date:

Clark County Treasurer Alishia Topper announced the county closed on the refinance of three Limited Tax General Obligation Refunding Bonds and executed two additional early payoffs.
Clark County Treasurer Alishia Topper


According to the county, the financial benefits include an aggregate net present value savings of $857,586

VANCOUVER – Clark County Treasurer Alishia Topper announced the county closed on the refinance of three Limited Tax General Obligation Refunding Bonds and executed two additional early payoffs. The transaction was completed on July 14, 2022.

According to the county, the financial benefits include an aggregate net present value savings of $857,586. In addition, the refinancing allows the county to continue receiving state sales tax credit revenues for another 15 years to fund public facilities district capital projects, estimated revenues totaling upwards of $30 million.

“The Clark County Treasurer’s Office finance team manages debt on behalf of the county and we are pleased this refinancing saves the county and taxpayers monies. I am proud of the work of my chief deputy treasurer Sara Lowe for finding this opportunity,” Topper said.

Savings breakdown:  

Component %NPV Savings $NPV Savings
2022A (Pepsi Building) 5.13% $64,384
2022B (Health Center) 3.99% $556,861
2022C (Expo Center) 1.72% $183,747
Cash Redemption – Conservation Futures 2.10% $43,678
Cash Redemption – Campus Development 1.29% $8,916
Aggregate NPV Savings 2.99% $857,586

To learn more about how the county treasurer manages debt visit https://clark.wa.gov/treasurer/debt-management-1.

Information provided by Clark Co. WA Communications.

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