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Board authorizes up to $20.7 million interim borrowing to fund capital projects; no tax increase expected
Summary
The Franklin County Board of Supervisors voted unanimously Aug. 19 to authorize an interim bond anticipation note of up to $20.7 million to fund several county and school capital projects without raising the tax rate.
The Franklin County Board of Supervisors on Aug. 19 approved a resolution authorizing interim borrowing — a bond anticipation note (BAN) — of up to $20,700,000 for a package of general‑government and school capital projects.
Kyle Alex of Davenport, the county’s financial advisor, told the board the short‑term borrowing will provide flexibility to move on several projects the board and staff have prioritized, anchored by the planned purchase of the Majicraft property and including Career and Technical Education facility needs, E‑911, public safety and school roof/HVAC projects. Alex said…
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