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Commissioners approve $5.935 million PBC lease-purchase bonds for detention center smoke-damper work amid public questions on financing choice
Summary
The county authorized $5,935,000 in Public Building Commission lease-purchase bonds on Oct. 23 to fund smoke-damper and related improvements at the New Century Adult Detention Center.
The Board of County Commissioners voted 7-0 on Oct. 23 to authorize the Public Building Commission (PBC) to issue lease-purchase revenue bonds (Master Lease Series 2025A) in the aggregate principal amount of $5,935,000 to finance improvements at the New Century Adult Detention Center, including replacement of smoke dampers and related work.
Leslie Friedel of Budget and Financial Planning reported the PBC sale produced premium that allowed the county to downsize the par amount; staff said two bids were received and the sale yielded favorable pricing compared…
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