Accomack votes to refinance 2013B Revenue Bonds

The Accomack County Financial staff in coordination with the County Administrator, bond counsel and investment advisors have studied the possibility of refinancing some of the county’s existing bond debt in order to save money going forward.   Director of Finance Margaret Lindsay said that refinancing a portion of the 2013B Lease Revenue Bonds used to fund the Wallops Research Park construction would save the County  $146,000 over the remaining life of the bonds.  Lindsay said that the $146,000 savings would be after the cost of refinancing is deducted.  The Board voted unanimously to move forward in the refinancing process.