Judge OKs county bond

On Tuesday, Nov. 22, Bebe Heiskell, chairwoman of the Walker County Water and Sewerage Authority (WCWSA) located in Flintstone, validated a bond in the Walker County Superior Court, Judge Don Thompson presiding.

The purpose of the bond was to refinance a 2011 bond (loan) which the WCWSA had executed with BB&T to finance water lines, sewer lines, and other infrastructure improvements. The 2011 loan was $10 million, and it had been paid down to $8.5 million.

Due to the current low interest rates in the credit market, a bid to refinance the outstanding balance produced positive results with 62% lower interest rates. The refinance of the BB&T balance with Whitney Bank in Gulf Port, Mississippi, will result in gross savings to the WCWSA and its rate payers of about $940,000 over the 15 year loan.

Bebe Heiskell, chairwoman of the WCWSA board, said “I am very proud of the job we have done over the past 16 years. The WCWSA has been able to almost double the area served, while some regions, such as Atlanta, have had to limit growth and institute rationing in drought years, Walker County has developed water sources that exceed demand by at least 30%. Walker County has state of the art infrastructure and facilities. But I am most proud that we have accomplished all this while maintaining among the lowest water rates in the United States.”