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County’s $35 million courthouse remodel and bond options outlined in fiscal study session
Summary
Financial advisers presented debt scenarios for a proposed $35 million remodel of state-transferred courthouse buildings; analysts said Kings County could absorb the debt without a major downgrade but cautioned about pension liabilities and budget trade-offs.
Kings County leaders received a study-session presentation on April 1 that outlined financing options for a proposed $35 million remodel of three state-transferred courthouse buildings the county received after the state opened a new courthouse.
David Leifer of K&N Public Finance, the county’s municipal advisor, presented pro forma debt-service schedules for 20-, 25- and 30-year lease revenue bond scenarios and explained how those choices affect annual payments, total interest and credit metrics used by rating agencies.
Leifer said a typical 20-year, fixed-rate issuance for $35 million would carry…
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