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Osceola County approves bond policies and accepts $5 million offer to finance jail project
Summary
The Osceola County Board approved post-issuance compliance and disclosure policies for municipal bonds and accepted a $5,000,000 offer to purchase general-obligation capital loan notes to fund the jail project, locking in a stated true interest cost of 4.1277%.
The Osceola County Board of Supervisors on Feb. 19 approved a package of bond-related policies and accepted an offer to purchase $5,000,000 in general-obligation capital loan notes to finance the county jail project.
The board approved a post-issuance compliance policy and a bond-disclosure policy, documents staff said are standard steps to ensure the county maintains records and meets continuing disclosure obligations after bond sales. Maggie Berger of Spear Financial, the county’s financial advisor, told supervisors the policies formalize responsibilities such as tracking project expenditures, interest earnings and filing annual financial information.
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