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Douglas County reports sale of Justice Center bonds, announces terms
Summary
Chief operating officer announced March 12 that the county sold two series of bonds to fund the Justice Center; the main series was $34,545,000 at an effective rate of 4.46% and a second $14,000,000 series at about 3.2%. Closing is expected in April.
Douglas County announced on March 12 that it sold bonds to finance the county’s Justice Center project.
Chief Operating Officer Cathy Lewis told the county board that two bond series were sold: a primary series of $34,545,000 purchased by RW Baird at an effective interest rate of 4.46 percent, and a second series of $14,000,000 sold to Jefferies at an effective rate of about 3.2 percent. Lewis said the county received multiple bids on both series and expects final closing and funds to be in hand in April.
"On Tuesday, we, sold the bonds for the Justice Center," Lewis said. She described the sales as a major milestone and said documentation and closing remain to complete the financial transaction.
Lewis said the market has been volatile and that staff will complete the closing paperwork in the coming weeks. She characterized the bond sale as “a big milestone in the construction of the Justice Center.”
Ending: County staff said the April closing will finalize the financing and allow project work to proceed to the construction phase.
