MDOT refunds bonds; I-269 on schedule
The Mississippi Department of Transportation recently refunded H.E.L.P (Highway Enhancement through Local Partnerships) bonds for Marshall County on the Interstate 269 project saving the taxpayers of Mississippi $3,844,769, announced transportation commissioner Mike Tagert.
Refunding is the financial practice of refinancing governmental bonds; similar to when individuals refinance their homes. Bond refunding is used to achieve savings on interest costs.
“The refunding of these bonds shows that diligence and timing are everything,” Tagert said. “The bonds were scheduled to be sold in January, but a post-presidential election interest rate spike delayed the sale and made potential future refunding uncertain.”
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