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Open Space could save $5 million by refinancing loans

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By AJ Vicens

The Jefferson County Open Space Division might be able to buy more land after it refinances more than $70 million in loans to take advantage of low interest rates.

“Unfortunately, the economy is bad, but it also creates the opportunity for us to do better with our bonds,” said Open Space Director Ralph Schell.

Schell said the open space program took out about $160 million in loans in 1999 to buy land. The county currently pays an average interest rate of 4.94 percent on the remaining debt, but prevailing rates are nearly 2 points lower.


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Canyon Courier | circulation@canyoncourier.com | 303-350-1030
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