{"id":14587,"date":"2020-08-12T11:55:01","date_gmt":"2020-08-12T15:55:01","guid":{"rendered":"https:\/\/chronicle.hvcc.edu\/wpdev\/college-projects-among-those-saving-rensselaer-county-3-million-in-bond-interest-expenses\/"},"modified":"2020-08-12T11:55:01","modified_gmt":"2020-08-12T15:55:01","slug":"college-projects-among-those-saving-rensselaer-county-3-million-in-bond-interest-expenses","status":"publish","type":"post","link":"https:\/\/chronicle.hvcc.edu\/wpdev\/college-projects-among-those-saving-rensselaer-county-3-million-in-bond-interest-expenses\/","title":{"rendered":"College projects among those saving Rensselaer County $3 million in bond interest expenses"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>By Kenneth C. Crowe II \/ Times Union \/ Aug. 11, 2020<\/p>\n<p>TROY \u2013 Rensselaer County will save $3 million in interest costs, which is $500,000 more than anticipated, as a result of refinancing $21.6 million in bonds from 2012, county officials said Tuesday.<\/p>\n<p>The bonds were for public safety projects and for Hudson Valley Community College. The county sponsors HVCC and is involved in its financing.<\/p>\n<p>\u201cOur strong financial position, a record of savings and solid ratings and review, definitely helped generate a savings when we refinanced these bonds. The market reacted very well to the county\u2019s offering, and that is excellent news,\u201d County Executive Steve McLaughlin said in a statement announcing the savings.<\/p>\n<p>The Rensselaer County Legislature had previously approved the refinancing project. It came as the county bond rating had improved to AAA3.<\/p>\n<p>\u201cWe are working every day to save money and provide needed services efficiently. This is a significant savings and a good indicator of our county\u2019s financial health,\u201d County Legislature Chairman Mike Stammel, R-Rensselaer, said.<\/p>\n<p>The county had projected saving $2.5 million in interest as a result of the refinancing.<\/p>\n<p>The savings is good news for the county which has seen the coronavirus pandemic negatively impact revenues while increasing some costs.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Published:<\/strong>\u00a0Wed, 12 Aug 2020 11:55:01 +0000 by\u00a0d.gardner<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; By Kenneth C. Crowe II \/ Times Union \/ Aug. 11, 2020 TROY \u2013 Rensselaer County will save $3&hellip;<\/p>\n","protected":false},"author":2086,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[133],"tags":[],"class_list":["post-14587","post","type-post","status-publish","format-standard","hentry","category-in-the-news"],"_links":{"self":[{"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/posts\/14587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/users\/2086"}],"replies":[{"embeddable":true,"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/comments?post=14587"}],"version-history":[{"count":0,"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/posts\/14587\/revisions"}],"wp:attachment":[{"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/media?parent=14587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/categories?post=14587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chronicle.hvcc.edu\/wpdev\/wp-json\/wp\/v2\/tags?post=14587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}