Refunding bonds could save county $1.2 million

- Posted on Aug 15, 2012 - 12:54 PM
The Gloucester Finance Department is working toward a refunding of the series 2002 utility bonds, which finance director Nickie Champion could save the county approximately $1.2 million.
Champion said in a July 5 memorandum to County Administrator Brenda Garton that her staff is working with the Virginia Resources Authority, Davenport and Company (financial advisors), and McGuire Woods (bond counsel) toward this refunding. Pricing was set for July, she said, and closing is anticipated in August.