Sunday, May 17, 2009
Loudoun Refinances $131 Million in Bonds
Loudoun County officials said they have refinanced more than $131 million in general obligation bonds issued between 1998 and 2007 to take advantage of lower interest rates.
The May 8 refinancing will save taxpayers more than $9.5 million over the next 13 years, or 5.3 percent of the principal and interest costs of the original bonds, the officials said.
For the second time this year, all three rating agencies — Moody's Investors Service, Standard & Poor's and Fitch Ratings — affirmed Loudoun's AAA rating. The county has held the AAA rating from Moody's since 2004, and from Standard & Poor's and Fitch since 2005.
Loudoun is one of about 25 counties nationwide to hold the highest rating from all three agencies.
County Seeks Groups To Participate in YouthFest
The Loudoun Youth Initiative and Loudounteens.org are looking for nonprofit organizations interested in participating in this year's YouthFest.
The annual outdoor event for teens will take place from 3 to 9 p.m. June 27 at the Belmont Country Club in Ashburn. YouthFest, which features live music, entertainment, food, games and a message about making positive choices, provides an opportunity for participating organizations to reach out to middle and high school students.
A limited number of spaces are available for groups that provide services to Loudoun youths. Interested groups can e-mail yac@loudoun.gov or call 703-737-8335.
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