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Rankin County board authorizes moving forward on up-to-$40M general obligation bond
Summary
The Rankin County Board of Supervisors voted unanimously July 7 to adopt a resolution of intent to issue general obligation bonds up to $40 million and authorized county officials to sign documents needed to carry out the sale.
The Rankin County Board of Supervisors voted unanimously July 7 to adopt a resolution of intent to pursue the issuance of general obligation bonds not to exceed $40,000,000 and to authorize county officials to execute documents needed to implement the sale.
A county staff member told the board the vote begins a multi-step process. The resolution as adopted sets limits — a maximum principal amount of $40 million and a maximum term of 30 years — but the board has not fixed the final amount or the ultimate repayment schedule.
The board opened a statutorily required…
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