Fluvanna Supervisors Mull Refinancing

 

By William J. Des Rochers, Fluvanna Field Officer

On July 1st, the Fluvanna Board of Supervisors heard a lengthy briefing regarding the potential refinancing of a portion of the school bonds obtained just last fall.  According to the county’s financial advisor, Davenport & Company, the county could save about $150,000 per year, depending upon continued favorable interest rate movements.

The modest savings would offset some anticipated new loans.  County indebtedness for other projects will accelerate over the next fiscal year with expected borrowings for the water pipeline, a new public safety communications system, and possibly a new firehouse.  These three items would exceed $30 million, according to present forecasts.

The Board also voted to apply for a Department of Homeland Security grant of $1.8 million for a firehouse in the Fork Union district.  If the effort is unsuccessful, the building would be deferred and one in the Columbia district would be built first.

In other business, supervisors were briefed on the Fork Union village enhancement project and renewed two agricultural/forestal districts in the county.  While only having limited practical effect, the districts signal interest in preserving rural acreage.

Supervisors also will meet on July 22nd to review the goals they established last year.

At its next meeting, the Board will consider a special use application to construct the county’s first mud bog, wherein vehicles attempt to complete a trek through over twenty inches of mud without getting stuck.   Reportedly, speed and distance are important, but style points are not.

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