Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Financing topic
No spam. Unsubscribe anytime.
Commissioners establish nonreverting fund for new health department building ahead of planned bond closing
Summary
The Floyd County Commissioners approved an ordinance to create a nonreverting fund to receive bond proceeds for a new health department building; staff said the bond closing could occur Thursday.
Floyd County Commissioners on June 3 approved an ordinance to create a nonreverting fund to hold bond proceeds for a planned new health department building and were told a potential bond closing could take place later in the week.
County counsel presented an ordinance described in the meeting as "Floyd County, Oregon's 2025-15" to open a line item for bond funding that will be used for the new health department building. A commissioner moved to approve the ordinance establishing the nonreverting fund; another commissioner seconded, and the motion passed by unanimous voice vote.
County counsel said the county is set to potentially close on the bond on Thursday and that the newly established fund will receive the proceeds. Commissioners did not discuss the bond amount, repayment terms, or a construction schedule during the vote, nor did they provide details on future budget appropriations from the new fund during the meeting.
The board recorded the motion and vote; staff and counsel will follow up on closing and fund administration.
