Briefly Noted: JoCo refinances bond issues, saving nearly $6.5 million; Roeland Park seeks resident support to fund 2 transportation projects

Last week, the Johnson County Board of County Commissioners authorized a series of bond sales to refinance existing debt. The county estimates this will save taxpayers almost $6.5 million. File photo.

Johnson County refinances bond issues, saving $6.5 million

Last week, the Johnson County Board of County Commissioners authorized a series of bond sales to refinance existing debt, saving nearly $6.5 million in taxpayer dollars. The board refinanced bond sales in light of current lower market interest rates.

The board on Oct. 15 authorized the sale of $54.4 million in general obligation refunding bonds and approved the sale of about $6.8 million in lease purchase revenue refunding bonds. The county estimates this will save taxpayers almost $6.5 million through the redemption of four outstanding bond issues by using proceeds from a new debt issue.

“We were pleased to take advantage of low interest rates,” said Chairman Ed Eilert. “The interest savings benefit Johnson County taxpayers in financing public capital improvements at the lowest costs.”

Refunding transactions involved:

  • GO taxable refunding totaling about $49.6 million to refinance bond issues in 2012 and 2013 for wastewater improvements with an estimated savings of about $5 million.
  • GO refunding of about $4.7 million to refinance 2010 bonds, also for wastewater improvements, with an estimated savings of $574,000.
  • Lease Purchase Revenue Refunding Bonds of about $6.8 million by the PBC with an estimated savings of $793,000. The original bonds, issued in 2010, funded construction of the new building for the department of public works.
  • The interest savings are spread over the remaining life of the bond issues.

Johnson County’s credit ratings attracted investor interest in purchasing county bonds, according to a press release.

Roeland Park seeks resident support for funding 2 transportation projects

The city of Roeland Park is seeking resident support in order to receive funding on two transportation projects, the Elledge Drive and Nall Avenue complete streets projects.

Roeland Park recently submitted the two projects to the Mid-America Regional Council Transportation for consideration for funding, of which there is about $61 million left. Residents can share their opinions about the proposed projects to help secure resources.

Comments for the Elledge Drive complete street project can be submitted at the bottom of this web page, and comments for the Nall Avenue complete street project can be submitted at the bottom of this web page.

Brady PAC gun violence advocacy group endorses several area Democrats running for statehouse offices

Brady PAC, the sister organization of a longtime gun violence advocacy group Brady, are endorsing several Democrats in the Shawnee Mission area who are running for state house legislative offices.

The candidates being endorsed are as follows:

  • Sen. Dinah Sykes
  • Kansas Senate District 8 candidate Cindy Holscher
  • Kansas Senate District 11 candidate Joy Koesten
  • Kansas Senate District 10 candidate Lindsey Constance
  • Kansas Senate District 9 Stacey Knoell