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County finance staff says bond closing fees were included in documentation; council questions labeling and timing
Summary
Northampton County finance staff told the finance committee that approximately $29,000,000 in bond proceeds are currently held in trust and that the budget amendment under review includes adjustments needed to record bond‑related professional services and closing costs.
Northampton County finance staff told the finance committee that approximately $29,000,000 in bond proceeds are currently held in trust and that the budget amendment under review includes adjustments needed to record bond‑related professional services and closing costs.
“Currently, we have $29,000,000 sitting in a truest account right now, and we are ready to go with the projects and to start paying people under that bond, that bonded indebtedness,” Finance Director Steve Barron told the committee. Barron said finance staff provided a 46‑page backup packet to county council on Aug. 12 and that the documents included financing and bond materials presented with the bond…
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