The Garrett County Commissioners recently approved a multi-part initiative designed to lower financing costs for county infrastructure investments, and to reduce energy usage. Both efforts are expected to reduce county government operating costs. The county hopes to reduce costs by some $1.8 million over a 20 year period with the changes.
First, the Board unanimously approved the issuance of a new four-bond debt re-financing package of $35 million at 3.5 percent interest through Susquehanna Bank, which essentially consolidates a group of 12 bonds totaling $25,850,000, as well as other debts the Garrett County Sanitary District, Inc. had incurred to finance three water and sewer projects.
Secondly, the Board – to reduce and manage energy costs within county government – unanimously approved an Energy Conservation Plan, which replaces a 1993 plan for Garrett County Government and targets five major utility cost contributors: electricity, fuel oil, natural gas, propane and water/sewerage.