Title
Public Hearing- Limited Obligation Bonds
Action
ACTION:
1. Open Public Hearing on $252,000,000 Installment Financing Contract.
2. Close Public Hearing on $252,000,000 Installment Financing Contract and
Adopt the attached Resolution Approving an Installment Financing Contract and Delivery Thereof and Providing for Certain Other Related Matters.
Staff Contact: David Boyd, CFO
Presentation: No
BACKGROUND/JUSTIFICATION:
As part of the currently approved Capital Improvement Plan and in addition to bonds being issued for schools, debt was also projected to fund other County projects. The County has the authority to enter into an installment financing contract and issue Limited Obligation Bonds without the need for a referendum.
These bonds are currently planned for sale in late January 2025.
On November 19, 2024 the Limited Obligation Bond Order was introduced and was published in the Charlotte Observer on November 21, 2024 with a notice that the Board would hold a public hearing on December 3, 2024. Upon adoption of the Resolution, notice of adoption of the Resolution will be published.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
N/A