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Forsyth County reports successful bond sale; staff outline plan to re-house school capital funds and set aside interest for debt service and arbitrage
Summary
Forsyth County sold $33.635 million in general‑obligation bonds on June 10 and staff outlined how premium and interest earnings from bond proceeds will be consolidated into a new education capital project ordinance.
Forsyth County finance staff reported the results of a recent general obligation bond sale and outlined a plan to consolidate and reallocate school‑related capital project funds.
Deputy CFO Lee Plunkett told commissioners that on June 10 the county competitively sold $33,635,000 in general obligation (two‑thirds) bonds. The winning bid came from UBS Financial Services with a true interest cost of 3.884 percent. Bond sale premium totaled about $1,766,000 — slightly above prior estimates — and Plunkett said that amount was earmarked by the county’s adopted accounting approach: roughly $530,000 for schools, $1,100,000 for county projects and just…
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