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Centerville renews $7.6 million bond anticipation note for Benhams Grove; authorizes Ohio Market Access Program participation
Summary
On Feb. 17 the Centerville City Council approved ordinance 06-25 to replace a one-year $7,600,000 bond anticipation note for the Benhams Grove park project and added language allowing the city to participate in the Ohio Market Access Program (OMAP) as a possible credit enhancement to lower borrowing costs.
Centerville City Council approved an ordinance Feb. 17 to replace a 12-month bond anticipation note of $7,600,000 for the Benhams Grove park improvement project and added provisions authorizing the city to use the Ohio Market Access Program as a potential credit enhancement.
The action came after a public hearing with no speakers. Finance Director Rourke told council the note being replaced matures April 9, 2025, and the replacement note will close April 8, 2025, and itself carry a 12‑month maturity. “This is simply a renewal or replacement note,” Rourke said.
The ordinance as amended adds two sections authorizing Centerville to participate in the Ohio Market Access Program (OMAP), a program run by the Treasurer of State that can act as a standby purchaser or a lower‑cost insurance-like…
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