Recently Blacksburg agreed to refinance some of our bonds. When staff brought this idea to Council, the projected savings over thirteen years were $409,542. We were excited about those savings.

When we finally went to bid, the world finance market had changed significantly and our net savings over this time period will be $750,135.00 This is partly due to our strong financial ratings which were just reconfirmed by Moody’s and Standard and Poor’s.

Town staff will continue to look for ways to save money during these challenging economic times. We are fortunate to have these professionals working for the citizens of Blacksburg.