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Commissioners approve reallocating unspent 2020/2022 installment financing to Rosewood Middle School project
Summary
The board approved amendments to 2020 and 2022 installment financing agreements with Truist Bank to repurpose roughly $3.85 million of unspent borrowing toward Rosewood Middle School construction, allowing the county to lock in previously issued low rates and reduce future borrowing costs.
The Wayne County Board of Commissioners voted to approve amendments to 2020 and 2022 installment financing agreements with Truist Bank, allowing the county to apply roughly $3.85 million in unspent proceeds from earlier borrowings to the Rosewood Middle School project.
County finance staff told the board that the original borrowings left unspent balances after…
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