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Nelson County board approves lease financing for social services building
Summary
The Nelson County Board of Supervisors voted to approve Resolution R2025-40 authorizing lease financing through the Virginia Resources Authority for a Department of Social Services capital project, setting a maximum principal of $9,450,000 and authorizing steps needed to close the pooled bond financing.
The Nelson County Board of Supervisors voted June 10 to approve Resolution R2025-40, authorizing lease financing through the Virginia Resources Authority (VRA) to fund capital work on the county's Department of Social Services building.
County bond counsel Paul Jacobson of Sands Anderson told the board the resolution authorizes the financing documents and sets a maximum principal amount of $9,450,000, with expected proceeds requested at $9,000,000. Jacobson said the VRA planned to lock interest rates in July and tentatively close the financing on Aug. 5; he…
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