BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.

BVU, which operates OptiNet (the nation's first triple-play muni FTTH network), has transitioned from being owned by the City to being an independent authority. In its last fiscal year (2010-11), the public power utility finished with net income. OptiNet finished ahead of projections. Having split from the city, BVU is taking advantage of the Virginia Resource Authority to issue $44 million revenue bonds to refinance its debt.

“We’re going through the VRA pool which helps fund 88 cities and service authorities. Because of that – and because of the market – we’re potentially looking at very low interest rates of 3.3 percent,” Rose told the board during his presentation.

The debt currently has an interest rate approaching 5%. After refinancing, the utility expects to save some $500,000 to $750,000 a year - for a period of 20 years. The cost of refinancing is $900,000. This story is worth noting for two reasons:

1. Restructuring debt is not necessarily a sign of weakness -- BVU's OptiNet is quite successful.
2. A reminder that small communities can benefit significantly by pooling bonding through programs like Virginia's VRA. States should help communities to work together in this way.