The Leitchfield Utilities Commission will save more than $318,000 by fiscal year 2036 thanks to savvy refinancing of a loan that the commission took out in 1995.
The loan’s original rate of 4.5 percent was lowered to 3.62 percent thanks to the refinance and an annual savings of approximately $13,836 will begin next fiscal year.
The bond refinance was discussed at the group’s regularly-scheduled bi-monthly meeting on Thursday, July 17.
Also discussed by the commission was the recent recognition by the Emergency and Environmental Cabinet.
Leitchfield Water Works passed the first portion of the Area-Wide Optimization Program inspection, and was recognized as a “totally optimized plant,” according to Chairman Robert Crawford.
The first inspection looked at the organization’s administrative aspects including policy, procedure, energy planning, budget and personnel certifications.
The second portion of the examination will look at technical aspects of Water Works.
The inspection takes place every three years, and this is the sixth consecutive year the EPA has bestowed this recognition on Leitchfield Water Works.
In other commission business, in the wake of commission member Dwight Embry taking over as Superintendent, the spot of Vice Chair was left unfilled.
Commissioner William Thomason made a motion to nominate Dorothy McCall to fill the vacancy, and a unanimous vote in favor followed.
McCall will now be responsible for leading the commission should Crawford be absent.