Late last month, the West Travis County Public Utility Agency (PUA) completed the refinancing of $151.7 million of its Series 2013 Bonds. The new Series 2017 bonds will have an effective interest rate of 3.51 percent.
The new rate is lower than the 2013 Series bonds interest rate of 4.95 percent, resulting in $17.4 million in principal and interest savings over 28 years, or $621,000 per year.
“We are pleased that our Board of Directors approved this bond refinancing, which will result in significant operating savings to the PUA going forward” said Robert Pugh, General Manager of the WTCPUA, in a statement.
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