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County executive: $32 million borrowing for parking garage saves $5 million; site testing underway
Summary
County Executive Lamont McClure told council the county sold bonds to borrow $32 million for a parking garage and P25 equipment, saving an estimated $5 million in payments over the bond life; core sampling at the planned garage site is underway and the garage will be designed to accommodate a future building.
County Executive Lamont McClure told the council the county recently borrowed $32 million to finance a planned parking garage and P25 radio equipment, and that the county's strong bond rating produced interest savings he estimated at $5 million over the life of the bonds.
"We borrowed $32,000,000 for the garage and the P. 25 equipment," McClure said in…
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