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Published: Monday, 7/21/2003

Refinancing to save Ottawa County $1.1M

PORT CLINTON — The Ottawa County commissioners have refinanced $13.9 million in debt, a move that officials say will save the county $1.1 million in interest payments over the next 15 years.

The county announced recently that it had sold $10.6 million in general-purpose obligation bonds and $3.3 million in bonds that refinanced most of the debt of the Danbury Township Sewer District.

Officials said Moody's Investor Service maintained a rating of A1 for the county, citing the county's sound financial position characterized by considerable reserve levels. It felt the county had a stable economy and a low debt burden.

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