Union County holds public hearing on $13 million two‑thirds general obligation bonds

Union County held the required public hearing May 19 on a proposed issuance of $13 million in two‑thirds general obligation bonds to finance acquisition, renovation and expansion of county public facilities, including judicial and governmental center needs.

Finance Director Beverly Liles explained state law requires a public hearing before the county issues general obligation bonds and said the proposed $13 million issuance responds to population growth and the need for more courtroom and staff space. Liles told commissioners the county expects debt service to begin in fiscal 2026 and to continue through 2046, with an estimated maximum annual debt service amount of $1,283,000. She said current tax rates in the county’s general debt fund are sufficient to meet payments for the proposed issuance.

Commissioners asked Liles whether the bond would affect the county’s credit rating; Liles said she did not anticipate a rating impact and that county staff had met with rating agencies. Commissioners also asked about interest rate assumptions; Liles said recent comparable yields were about 4.25% and the county had used 5% as a conservative model assumption.

No members of the public who had signed up appeared to speak at the hearing, and the board closed the public hearing without taking action to approve issuance of the bonds at the meeting. Liles said the county plans to issue bonds in July and offered to answer follow‑up questions.

The hearing record in the meeting transcript indicates the item was informational and procedural; the board did not vote to issue bonds on May 19.