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Carbon commissioners refinance bond

A little snow didn't stop the Carbon County Commissioners from saving some green.

On Thursday, the board held a brief conference call among the three members since the county offices were closed due to the winter storm to adopt and execute an ordinance that would refinance $4,255,000 of the 2011 bond series. The commissioners then recessed the meeting for the rest of the agenda until 10:30 a.m. today.Last month, they authorized the advertisement of the county's intent regarding refinancing the bond.Commissioners' Chairman Wayne Nothstein, who was reached by phone after the call Thursday, said the refinancing will help the county."We continue to try and save money," he said, noting the bond interest rate will drop from 3.28 percent to about 2.47 percent.Jeff Weiss, financial consultant for the county, reported to the board this will represent a savings of approximately 3 percent, ranging between $128,000 to $148,000 depending on the market.The bond is part of the $14 million that Carbon began moving to refinance last October to help with capital improvement projects and save money.But as 2016 drew to a close, officials learned the market wasn't fully in their favor to get the most bang for their buck and chose to split the action, borrowing the $7.75 million necessary to do a significant amount of capital improvement projects, which include constructing additional office space and moving offices around, and holding the remaining bonds until the market was better to provide more savings.