Henry County water resolution fails

A proposal to refinance Henry County Water Authority bonds that officials say would result in about $2.8 million in savings to taxpayers failed to get the approval of the Henry County Board of Commissioners.

A vote on the matter at the board’s Dec. 1 regular meeting resulted in a 3-3 tie, although it could come up again at a meeting in the immediate future. The authority proposed issuing Series 2020 revenue refunding bonds to refund nearly $30 million in outstanding principal on Series 2010 bonds. An official with the HCWA, which receives two mills in county property tax, said that the authority has saved more than $20 million in the past 10 years with various refinancing and restructuring moves.