Iredell County approves financing for Wethers Creek High School, authorizes up to $83.99 million in GO school bonds

The Iredell County Board of Commissioners on Jan. 21 approved two financing resolutions to fund construction of Wethers Creek High School, adopting a trust agreement and related documents for limited obligation bonds and authorizing a not-to-exceed $83,990,000 general obligation (GO) school bond issue.

Caroline Taylor, a presenter from the county finance department, told the board the trust agreement would be executed with a trustee and that the county would deliver a deed of trust and enter a construction and acquisition agreement with the Iredell-Statesville School Board of Education. “So this resolution is for our limited obligation bonds that we are looking to issue for Wethers Creek High School,” Taylor said, summarizing the documents the board was asked to approve.

The board was also asked to approve a separate resolution to offer GO school bonds in an amount not to exceed $83,990,000. Taylor said the GO bonds would mature annually beginning in April 2026, with a final maturity no later than Dec. 31, 2045, and would be sold in $5,000 denominations and registered in…