Monday morning the Marshall County Commissioners and the Jail Holding Committee moved forward with the refinancing of the bonds for the County Jail.
Last week the bond sale went better than Umbaugh expected.
Originally the commissioners wanted a minimum of $350,000 savings to refinance the current bond issue on the jail. As the date grew closer Umbaugh estimated a savings would be in the area of $500,000 and when the sale was completed the lower rates will save county taxpayers approximately $630,000 after all expenses were paid.
County Attorney Jim Clevenger said the rate structure is much lower to begin with and is graduated with a slightly higher rate for the later years.
Both the commissioner and holding corporation approved resolutions to execute the required documents for the closing which is set for the 15th.
