IN BRIEF: A refinancing of about $98 million in bonds for sewer services will save about $7.7 million, some of which will be used to extend sewer services to the western part of Rockdale County.
The rates of the new bonds, underwritten by Robert W. Baird & Co., will be tied to US Treasury notes and will stay within the timeline of the original bonds, due 2029.
The refinancing is for bonds that were issued in 2005, which itself was a refinancing of bonds originally issued in 1999 for sewer plant improvements and other sewer improvements.
The savings is about $7.7 million dollars or about $6.16 million in today's dollars, adjusting for inflation.
Currently, sewer services are being provided by DeKalb County for the western part of the county, which costs Rockdale County about $500,000 a year, said Water and Sewer Authority Board member Chip Hatcher. DeKalb charges about $10 per 1000 gallons for sewer service whereas Rockdale County's rates are about $4.10 per 1000 gallons.
Extending sewer service will also affect the older industrial areas of the county and hopefully make it more viable for attracting businesses and manufacturers to the western part of the county, which is part of an "opportunity zone" where businesses that move into the area can be eligible for tax credits.