Bedford saving money on bonds

BEDFORD — The Bedford County commissioners on Tuesday approved an ordinance restructuring $7.5 million in county bonds for financing capital projects to save money.

Because of the threat of a federal government shutdown has passed, “interest rates took a turn” and decreased by a half percent, said Alisha Henry, PNC Capital Markets managing director, at Tuesday’s meeting.

Savings from 2014 bonds, bond restructuring and lower interest rates mean the Bedford County budget will not be impacted for the next few years, according to Henry. With all those combined, the county can “offset the cost of new money” for capital projects for a couple of years, she added.

Although the bond amount is for $7.5 million, Henry said she anticipates the county would spend closer to $5.5 million. She said the total bond issuance is estimated at a higher amount because of undetermined interest rates.

A copy of the proposed ordinance will be available for the public at the commissioners’ office on the third floor of the Bedford County Courthouse between 8:30 a.m. and 4:30 p.m. weekdays.

In other business, the commissioners approved the purchase of a 2019 Ford Escape for $22,810 for county Children and Youth Services. The net cost is $10,474.50 after deducting the $12,335.50 insurance payoff.

The commissioners also recognized April as Sexual Assault Awareness Month and April 2 as Equal Pay Day.

According to a proclamation recommended by Your Safe Haven, a sexual assault occurs every 92 seconds, a child is sexually assaulted every nine minutes and only five of 1,000 people are incarcerated for sexual assault.

A proclamation recognizing Equal Pay Day states that women working full time year-round in 2018 made 81.8 percent of what men earned, a decrease of 0.1 percent since 2016, according to the U.S. Census Bureau. The proclamation also called for the passage of the Paycheck Fairness Act, which would amend the Equal Pay Act.

Working women in Pennsylvania made a median income of $40,213 whereas working men earned a median income of $50,976, the proclamation says.

The commissioners ap­proved Josephine Kelly to serve a five-year term on the Bedford County Housing Authority and Bonnie Burr of Hopewell, Prudence Harclerode of New Paris, Mary Shaffer of Hyndman, Donald Steele of Hopewell, Jeannie Zimmer­man of Everett and Doris Kay Imgrund of Schellsburg to one-year terms to the Citizens Advisory Council for the Huntingdon-Bedford-Fulton Area Agency on Aging

Mirror Staff Writer Shen Wu Tan is at 946-7457.


Today's breaking news and more in your inbox

I'm interested in (please check all that apply)