McDONOUGH â The Henry County Board of Commission voted to reaffirm the 2-mill tax levy that backs Henry County Water and Sewer Authority bonds during its Jan. 6 meeting.
Doing so has allowed county officials to refinance the bonds, lowering interest rates from 5% to 1%, a move expected to yield a savings of $2.5 to $2.8 million to county tax payers. The bond expiration date is February 2026.
The motion came before the BOC last month and failed after board members said they didnât have enough information. In December, Commissioner Vivian Thomas wanted more information about the authorityâs capital improvement plan and what would be done with the money saved. Similarly, Commissioner Dee Clemmons also wanted to know what would be done with the bond savings.