Commissioners approve three series of road-and-bridge notes up to $2 million each

Boone County commissioners on Oct. 6 approved Resolution 2025-11 authorizing the issuance of three series of road-and-bridge improvement notes, each with a principal not to exceed $2,000,000, to fund nominated road and bridge projects.

Dennis Cotton, acting as bond counsel, told commissioners the state statute limits each series to $2 million and a term not exceeding 10 years; the county is using the same approach it employed in 2022–2023. Cotton said the resolution is a practice step so documents are in order before the county council considers the financing at its Oct. 9 meeting. He said the county expects to close the financing around December, subject to market conditions and coordination with financial advisors and Baker Tilly.

Commissioners voted to approve Resolution 2025-11 by voice vote. Cotton said the notes will likely be purchased by a local bank or a group of banks and that final sale timing will follow advice from financial advisors. No specific projects beyond those listed in the resolution’s exhibit A were read aloud in detail during the meeting.

The board did not provide a detailed repayment schedule or projected interest rates at the meeting; Cotton said those details will be finalized as the financing proceeds. Commissioners indicated they will sign financing documents at closing and that legal and advisory staff are coordinating advertisements and closing logistics.