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Warren County authorizes up to $10 million in bonds for public-safety radio upgrades
Summary
County officials approved a motion to incur non-electoral general-obligation debt to finance phase 2 of a public-safety radio project, including three radio towers; bonds will be sold to PNC Capital Markets and US Bank will serve as trustee, with state procedural review required.
Warren County officials voted in a special meeting to authorize the incurring of non-electoral general-obligation debt not to exceed $10,000,000 to fund phase 2 of the county’s public-safety radio system, including construction of three radio towers in Sugar Grove, Elk Township and Sheffield.
The authorization instructs county officers to complete closing paperwork, permits a sale of the bonds to PNC Capital Markets and establishes U.S. Bank as the sinking-fund depository and paying agent, county bond counsel said. Anthony Gitka, the county’s bond counsel, told the meeting the ordinance “authorizes … your full faith, credit, and taxing power to repay those bonds” and that “PNC is gonna underwrite the bonds.”
Why it matters: the project is described by county officials as a multi-phase effort to modernize 9-1-1 communications used by first responders. The bonds will be repaid from county revenues; counsel said the county’s ordinance sets a…
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