FOR IMMEDIATE RELEASE: March 28, 2014
MEDIA CONTACTS: Carole Trottere, Ryan Mulholland, Sam Marksheid, and Rebecca Cheng | (516) 869-7794
Supervisor Bosworth Announces $4 Million Savings for North Hempstead Taxpayers
North Hempstead, NY – North Hempstead Supervisor Judi Bosworth has announced that the Town has refinanced $42 million in bonds outstanding at a lower interest rate resulting in a savings of $4 million for North Hempstead taxpayers.
“We are always looking for new and creative ways to save money for the people of the Town of North Hempstead,” said Supervisor Judi Bosworth. “By working with our highly professional finance team, we were able to identify this great opportunity to refinance our existing bonds and save significant dollars.”
The Town will be refinancing bonds from 2003 and 2004 with the $4 million in savings being captured in fiscal years 2014 through 2025.
Earlier this month, the Town announced that their Aa1 bond rating was reaffirmed by the independent ratings agency Moody’s, and that for the third straight year the Town would receive the Comprehensive Annual Financial Report (CAFR) award from the Government Finance Officers Association.