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Commissioners approve TEFRA hearing resolution for Novant Health bond financing
2978507 · April 8, 2025
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Summary
The board held a TEFRA public hearing and approved a resolution supporting issuance of tax-exempt bonds that will finance Novant Health improvements, including at Rowan Medical Center; county staff said the county bears no financial obligation for the bond issuance.
Alan Robertson, managing partner at Roberts & Bradshaw serving as bond counsel, explained the Tax Equity and Fiscal Responsibility Act (TEFRA) requirement for a public hearing when tax-exempt bonds issued by an entity will finance projects in a jurisdiction. Robertson said the bonds would be issued…
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