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Habersham County approves financing plan to build new animal control facility, accepts PNC bid at 3.64%
Summary
The Habersham County Commission approved awarding financing and authorized closing documents for a new animal control facility to be funded through an ACCG installment sale; PNC Bank offered the winning 10-year bid at 3.64 percent. Commissioners said repayment is expected to come from SPLOST sales-tax collections.
Habersham County commissioners on March 17 approved financing and authorized closing documents to build a new county animal control facility, awarding the installment-sale loan to PNC Bank at a 3.64 percent interest rate.
The move follows a public hearing and a presentation from Davenport, the county’s financial adviser, and bond counsel Gray Pannell Woodward. Christopher Holt of Davenport told commissioners the county received seven proposals and that PNC’s bid was the lowest; the recommended structure is a tax-exempt installment sale through the Association County Commissioners of Georgia (ACCG) with a 10-year amortization not to exceed $6,850,000.
County manager Tim Sims and bond counsel Jim Woodward explained the procurement and financing…
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