Leon County forms bond partnership with Capital City Bank

Leon County commissioners this week adopted a proposed ordinance for the refunding of Capital Improvement Revenue bonds, awarding Capital City Bank as the banking institution of choice.

Out of eight valid responses, Capital City Bank submitted the lowest bid for the fixed rate loan, with no early payment penalty, making it the recommended choice for refinancing the 2005 series bonds.

Based on the bid by Capital City Bank, Leon County would realize an estimated savings of approximately $300,000 for the current fiscal year, and an estimated net present value savings of $585,000 over the life of the loan.