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Johnson County approves $60.2 million general obligation bonds for wastewater and airport projects
Summary
The Board of County Commissioners approved issuance of $60.2 million in general obligation bonds (Series 2025A) to fund wastewater improvements and airport T-hangar projects after staff reported strong market results. A public commenter raised questions about tenant commitments, PILOTs and taxpayer risk for airport financing.
Johnson County commissioners on Oct. 23 voted 7-0 to authorize issuance of $60,200,000 in general obligation bonds, series 2025A, to finance specified wastewater improvements and certain airport improvements.
County budget staff told the board the sale generated strong market interest and lower-than-expected borrowing costs. Leslie Friedel of Budget and Financial Planning said the bonds drew 12 bidders and the county realized an interest cost of about 3.67 percent, down from an original projection of roughly 4.6 percent. Friedel said the county resized part of the issue to preserve premium proceeds, applying roughly $4 million of premium toward Mill Creek storage costs and…
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