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Commissioners debate bonding GoMESA distributions for capital projects; no final vote recorded
Summary
On Sept. 18 Mobile County commissioners debated a preliminary resolution to issue limited-obligation warrants backed by GoMESA distributions, with one commissioner calling the approach 'a horrible idea' and others arguing bonding enables larger projects and manages debt capacity; no final vote on the bond issue was taken at the conference.
Commissioners debated the merits of bonding future GoMESA (Gulf of Mexico Energy Security Act) distributions for capital projects during the Sept. 18 Mobile County Commission conference, with one commissioner urging caution and others defending the financing approach. The item under discussion was a preliminary resolution authorizing issuance of limited-obligation warrants not expected to exceed $35 million for capital improvements.
One commissioner said bonding GoMESA funds would “hamstring future commissioners” and…
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