Grand County pays off Judicial Center debt
July 27, 2010
Grand County commissioners have paid off the lease-purchase to build the Grand County Judicial Center, making a lump payment of $6.4 million approved in a July 27 board decision.
The interest saved by paying off the 15-year loan from Bank of New York amounts to about $2.4 million through the life of the loan, according to Grand County Manager Lurline Underbrink Curran.
Paying off that loan as well as 2008 and 2010 ambulance leases, the pair totaling $730,000, leaves the county with “no lease purchases and no voter-approved long-term debt,” according to county officials.
“Instead of spending the excess revenue in the good times, you saved,” Underbrink Curran said, commending commissioners.
County funds primarily were invested in updating county buildings and roofs and building a new Grand County Judicial Center, she said.