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Putnam County Legislature moves to redeem $44.7 million in callable bonds, freeing operational flexibility
Summary
Legislators approved resolutions to call and pay off $44.725 million in callable serial bonds and to move funds from the general fund to debt service; officials said the move reduces restrictions tied to earlier financing and uses fund balance to lower future debt service obligations.
The Putnam County Legislature approved resolutions on Aug. 25, 2025, to call and redeem $44,725,000 in outstanding callable serial bonds and to appropriate funds from the general fund and fund balance to the debt-service account to complete the payoff. Why it matters: County officials said redeeming the callable bonds will remove restrictive "safe harbor" provisions tied to the earlier financings and will give the county more flexibility to make…
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