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Starke County Officials to Move Forward with Jail Bond Refinancing

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The Starke County Commissioners and Council considered moving the process of refinancing the 2013 jail bonds for the Starke County Justice Center during their meeting Monday night.

Andrew Mouser from Baker Tilly explained that 13 proposals came back with five different scenarios.  They spelled out savings either by cash savings, early pay-off, or reduction of payments with the same term. 

The council and commissioners seem to favor an option that would save the county about $628,000 over the rest of the life of the bonds over the next 12 years, which cuts off two years of the existing bond with the refinancing.

The government bodies agreed to work with underwriters Baird Financial to get the conversation rolling with the banks to lock in a rate to move forward with the paperwork.  The terms and finalization of the process will be made at their joint meeting in March. 

Until then, the Building Corporation will reorganize in order to make the necessary approvals of paperwork.  The commissioners took action to appoint Kenny Wallace who will succeed the late Ron Henningsmith for the remainder of his term on the Building Corporation while Commissioner Bryan Cavender and Ben Osinski will serve three year terms on that board. 


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