ANOKA, Minn. – (April 30, 2015) – The Anoka County Regional Rail Authority is about to save taxpayers about two million dollars. Recently the authority decided to go ahead with refinancing bonds sold back in 2007 to finance the construction of the Northstar Commuter Rail.
Through refinancing, the county will be able to cut the interest on the bonds and save more than $100,000 per year. The bonds still have 17 years of repayment left meaning the cost savings will add up to near two million dollars over time.
The rail authority expects to close on the sale of the refinanced bonds by June 15.
