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Monday, February 2, 2015

New Suffolk County official looks to refinance debt with emergency resolution

New Suffolk Comptroller John M. Kennedy Jr. said he will seek county legislature approval Tuesday for an emergency resolution to refinance $84 million in debt to provide the county with a $4.5 million net savings through 2026. Kennedy and financial advisers briefed the legislature's budget committee on the plan to pay off two series of 2006 bonds on which the county pays between 4 percent... New Suffolk Comptroller John M. Kennedy Jr. said he will seek county legislature approval Tuesday for an emergency resolution to refinance $84 million in debt to provide the county with a $4.5 million net savings through 2026.

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