County officials delivered a $660,000 check to First Security Bank on Tuesday to pay off its Justice Building five-year loan a year early.
By doing so, the county saved $277,114.61 in interest, according to County Attorney David Hogue.
“Being able to pay this off early is great,” County Judge Jim Baker said. “It opens the door for expansion or improvements.”
The original five-year loan was for $5 million.
The Faulkner County Justice Building opened in 2014. The four-story building houses courtrooms, the prosecuting attorney’s office, the probation office, the juvenile court office and more.
It took just under $12 million to build and furnish, County Administrator Tom Anderson, who went to the bank with Baker to present the payoff, said.