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Georgetown approves land purchase, authorizes up to $18 million in bonds for new police station and public works building
Summary
The Georgetown Town Council approved purchase of a 2.66-acre parcel and passed a resolution authorizing up to $18 million in general obligation bonds to finance a new police station and public works building; council said the purchase price matched a third-party appraisal and the bonds set maximum parameters, including a 5% maximum interest rate.
Georgetown’s Town Council voted to buy 2.66 acres for a new police station and public works building and approved a resolution authorizing the issuance of up to $18,000,000 in general obligation bonds to help pay for the project.
The council approved an agreement to purchase a 2.66-acre portion of Sussex County tax parcel 135-14-205 for $1,130,000, the same figure the town said it received in an independent third‑party appraisal. Town staff said the closing is being scheduled with Fuquay, Willard & Schaub, and that, in lieu of cash, the seller agreed to a waiver of fees that otherwise would have been…
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