Title
Public Hearing- General Obligation Bonds, Series 2026A (Two-Thirds Bonds-Solid Waste Bond Issuance)
Action
ACTION:
1) Open Public Hearing on $45,000,000 General Obligation Solid Waste Bond Order.
2) Close Public Hearing on $45,000,000 General Obligation Solid Waste Bond Order.
3) Adopt the $45,000,000 General Obligation Solid Waste Bond Order.
Staff Contact: David Boyd, CFO
Presentation: Yes
BACKGROUND/JUSTIFICATION:
As part of the currently approved Capital Improvement Plan and in addition to general obligation bonds being issued for schools, debt was also projected to fund other County projects. The County has the authority to issue additional general obligation bonds in an amount equal to two-thirds of the retired principal in the prior year without the need for a referendum.
These bonds are currently planned for sale in late November 2026.
On September 15, 2026, the Solid Waste Bond Order was introduced; a Resolution calling for a public hearing on the Bond Order and directing publication of a Notice of Public Hearing was adopted, and the Notice of Public Hearing was published in the Charlotte Observer on September 27, 2026, providing timely notice that the Board would hold this public hearing on October 6, 2026. Upon adoption of the Bond Order and the Bond Resolution (contained within a separate agenda item), notice of adoption of the Bond Order will be published.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
The Solid Waste Fund financial model projects future revenues, operating costs, and capital needs along with the fees and charges necessary to fund the plan. This bond issuance is contemplated within the financial plan, and the projected future rates are sufficient to support this debt.