County Treasurer Bob Robinson Negotiates $1,116,000 in Savings for Eaton County

Charlotte, MI, June 30, 2016 --(PR.com)-- Eaton County Treasurer Bob Robinson reported today that on May 26 he successfully negotiated the refunding of Eaton County Building Authority Bonds resulting in a savings of over $1.1 million to the County. The bonds were originally issued in 2007 for an expansion of the county jail. The net savings comes to the county over the 12 years of remaining payments due on the bond issue. By refinancing old debts and bonds, Robinson has saved Eaton County taxpayers more $3.66 million since 2014.

“Timing is everything in the financial world,” said Treasurer Robinson. “While it is often unavoidable, and sometimes even preferable, I don’t like debt. I dislike making interest payments even more. If I see an opportunity to restructure old debts and save taxpayers money, I will look at every proper possibility to make it happen.”

Since 2013, Eaton County has enjoyed a AA long term rating on its credit profile with Standard and Poor’s Rating Services, and was recently awarded a AAA rating because of its stable financial outlook. These ratings reflect Standard and Poor’s assessment of strong county management with good financial practices, adequate budgetary performance, and very strong liquidity.

“Our ability to refinance these bonds at such a savings is an indication of the county’s solid capacity to meet its financial commitments,” said Treasurer Robinson.

The treasurer is custodian of all county funds. By Michigan law the treasurer also records county revenue, collects delinquent property taxes, manages property forfeitures, is the custodian of all property tax rolls and certifications, and manages the issuance of dog licenses. Treasurer, Bob Robinson, also serves on the Eaton County Elections Commission and is chairperson for the county’s Property Assessment Clean Energy (PACE) district.