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Wayne County adopts $9 million reimbursement resolution for Rosewood school improvements; borrowing not immediate
Summary
The board adopted a resolution declaring its intent to reimburse expenditures for Rosewood Elementary and Rosewood Middle School improvements, allowing the county to pay bills now and reimburse itself if it later issues bonds; the resolution authorizes up to $9 million in reimbursements.
The Wayne County Board of Commissioners on Sept. 16 adopted a resolution declaring the county's official intent to reimburse expenditures for improvements to Rosewood Elementary and Rosewood Middle School under U.S. Treasury rules.
County finance staff said the action does not obligate the county to borrow immediately, but it allows the county to pay architect and construction-related costs now and later reimburse itself if it…
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