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Delinquent Tax Revolving Fund Notes Refinanced
Wayne County Treasurer's Office refinanced the outstanding balance of the Delinquent Tax Revolving Fund (DTRF) Series 2017 Notes which is $47,870,000. Due to the strength of the DTRF, as evidenced by strong tax collections and Wayne County's rating upgrade, the interest rate on the Series 2018 Refunding Notes is 1.35% resulting in a net debt service savings of $268,955.00 to be realized over an 8 month period ending June 1, 2019.