So far this year, Young County officials netted thousands in savings by refinancing its transportation and equipment budget finance rate to 2.20 percent in March, down from over 3 percent.
After that, in mid-April, the county refinanced its 2006 certificates through a deal brokered between Specialized Public Finance Inc. and the Young County Commissioners Court that will likely save the county roughly $200,000 up to the year 2023.
Now, county officials are looking to save even more money through an energy contract renewal. On Monday morning, April 28, The Interlocal Purchasing System (TIPS) representative Larry Settle met with the Young County Commissioners court to discuss options for the purchase of a county-wide energy contract.
Settle provided spreadsheet information on extended rates for 14 different energy companies, including Gexa, Reliant, Green Mountain, MP2 Energy and Cavallo.
The rates Settle provided were accurate as of Friday, April 25, but he said that if it pleased the court, he could refresh the information and present it again at a later date. The rates provided span time frames from 12 to 60 months, and Settle encouraged the court to opt for a longer contract after Commissioner Mike Sipes asked him if the county should be approaching a new energy contract in the same manner as the interest rates.
Read the entire story in Wednesday's Graham Leader.