County saving money on bond refinancing

(Claremore-AP) -- The Rogers County Criminal Justice Authority in Claremore made a move today that would allow the panel to pay off jail bond five years early and save taxpayer almost $3 million

The authority opted to refinance its jail bond issue at a lower interest rate.

Kenneth Crutchfield is an authority member and county commissioner.

Crutchfield says the authority is able to give back to taxpayers because the authority refused to exceed the original $6.8 million dollar construction bid and kept costs down where possible.

He says bond, reserve and sales tax monies were kept in interest-bearing accounts, giving the authority $2.5 million.