Board adopts reimbursement resolution to cover planning costs for middle and elementary school projects

The Culpeper County Board of Supervisors on Jan. 10 adopted a reimbursement resolution that allows the county to reimburse prior expenditures for professional services and other pre‑issuance costs from future bond proceeds for two planned school projects.

County Administrator John Eggerson told the board the resolution is a standard municipal finance step that permits the county to pay architecture, surveying and related soft costs now and include those expenses in a later debt issuance. The meeting packet noted the current borrowing estimate shown in the resolution is approximately $112 million — roughly $70 million for the Culpeper Middle School renovation and $42 million for a planned new elementary school — but Eggerson said the final borrowing amount could change and would be presented in detail at the board’s February meeting.

Why it matters: The county is already spending on design, surveys and property transactions for the school projects. Adopting the reimbursement resolution preserves those prior costs as eligible for inclusion in future debt proceeds so the county can borrow for the total project cost rather than only hard construction costs.

Eggerson said the county’s financial advisors will present borrowing options in February and that one option would be an interest‑only first year to help delay the peak debt service impact until fiscal 2027, when the county hopes technology tax revenue and other growth will increase revenues.

The board approved the resolution by voice vote; the meeting record shows the motion carried with no recorded opposition.