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Polk County approves two short-term bond series totaling $21.2 million; staff cites TIF strategy
Summary
The Polk County Board of Supervisors voted unanimously to direct the advertisement for sale of two general obligation bond series — $6.89 million and $14.31 million — which county staff said will fund capital improvements and housing commitments and use tax-increment financing valuations to improve net proceeds.
The Polk County Board of Supervisors voted to direct advertisement for the sale of two general obligation bond issues totaling $21,200,000 during its regular meeting.
Deb Anderson, budget director with the Board of Supervisors Office, told the board the county will issue two series of bonds, with the larger portion intended for capital improvements and housing commitments and issued on a short-term basis. Anderson said issuing bonds against tax-increment financing (TIF) valuations lets the county “capitalize on taxable valuations that would have been excluded from us because they're in a…
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