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Wake County authorizes up to $703.65 million installment financing agreement for school capital needs
Summary
The Wake County Board of Commissioners on July 7 adopted an authorizing resolution to issue a 2025 installment financing agreement not to exceed $703,647,000 to fund major school construction and renovation projects for fiscal years 2026–27; the county plans to convert the temporary bank loan to limited-obligation bonds over the next four years.
The Wake County Board of Commissioners on July 7 adopted an authorizing resolution to issue a 2025 installment financing agreement for the Wake County Public School System, not to exceed $703,647,000, to fund major school capital needs in fiscal years 2026 and 2027.
The draw program — a temporary bank loan structure the county calls a "draw program" — will be non-general-obligation debt that the county intends to convert to limited-obligation bonds (LOBs) over the next four years. "This is the second and final board action required for issuance of this draw program," said Todd Taylor, director of debt and capital strategy, during…
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