The Limestone County Commission may vote Monday to refinance a previous bond issue that should results in a substantial savings to the county.

Brad Green with Raymond James in Huntsville spoke at Wednesday’s commission work session about the benefits of refinancing about $7.9 million in current debt service. The debt is part of refunding warrants issued in 2010.

Commission Chairman Mark Yarbrough said the repayment scenario favored by the county’s chief finance officer, Emily Ezzell, would present a savings of about 4 percent to the county for a net savings of $241,559 and a gross savings of $326,677. It would also allow the county to pay off the debt by 2025.

Yarbrough told commissioners “time is of the essence” in terms of approving the deal at Monday’s meeting because interest rates are scheduled to rise.

Energy savings

Another savings measure discussed Wednesday was the county’s continuing efforts to reduce its energy expenses. The county entered into an agreement with Meridian Energy Group in November 2016 to replace lighting in the Limestone County Jail with LED fixtures. The cost of the agreement was $54,000.

Joe McFadden with Meridian Energy Group on Wednesday told commissioners an energy savings of 60 percent had been realized, which is what the group predicted. He said there have also been zero failures with the LED lights, which have a five-year warranty.

With the savings in mind, McFadden asked the county to consider doing the same with the remainder of the county-owned buildings at a cost of $45,000. He explained that if an agreement were completed by June, the county would be eligible for a 10 percent rebate being offered by the Tennessee Valley Authority.

District 4 Commissioner Ben Harrison said he would first like to see an estimate on what it would cost to replace the lights at the Limestone County Courthouse, which was not part of the $45,000 estimate.

Time clocks

The commission could vote Monday to allocate $23,585 to purchase time clocks for hourly employees. District 3 Commissioner Jason Black said the clocks would ensure efficiency and that employees were working their scheduled hours, but District 1 Commissioner Stanley Hill said he “could see disadvantages with the system.” He also said he’d rather use that money for roads.

District 4 Commissioner Ben Harrison said he planned to investigate the issue further prior to Monday’s regularly scheduled meeting.

The commission meets at 10 a.m. at the Clinton Street Courthouse Annex.