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Habersham County approves financing, PNC Bank to fund new animal control facility
Summary
The Habersham County Board of Commissioners voted unanimously to award an installment-sale financing bid to PNC Bank and to authorize closing documents for a new animal control facility, using SPLOST sales-tax receipts for repayment.
The Habersham County Board of Commissioners voted unanimously March 17 to award financing for a new animal control facility and to authorize the chairman to sign closing documents for the installment-sale agreement with PNC Bank.
County bond counsel and financial advisers presented the financing plan during the meeting. Jim Woodward of Gray Pannell Woodward explained the county is using the Association County Commissioners of Georgia (ACCG) ‘‘bricks and mortar’’ installment-sale structure to borrow the funds. Christopher Holt of financial adviser Davenport said seven proposals were received and recommended PNC’s bid at a 3.64 percent interest rate on a 10-year amortization.
The re…
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