Holly Springs will try to refinance police station bond

Brad Davis and Mitch Ross returned to the Holly Springs Board of Aldermen meeting in July asking for a resolution to refinance the police bond.

They said this is a way to save money by refinancing bonds at a lower percentage point.

Board attorney Shirley Byers explained the prior resolution to refinance the bonds had timed out and the old resolution is no longer good.

The police station was financed in 2008 using general obligation bonds, but the market changed and the opportunity to refinance at a 2 percent minimum savings has lapsed.

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