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Council clears second reading of bond ordinance to cover annual debt for capital project
Summary
Marion County Council approved second reading of Ordinance 2025-02 authorizing sale of up to $390,000 in general obligation bonds to fund an annual portion of an existing capital-project financing; council members discussed the history and timing of prior bonds and capital sales tax proceeds.
Marion County Council approved second reading of Ordinance 2025-02, which authorizes issuance of general obligation bonds not exceeding $390,000 to pay that year’s portion of debt related to a prior capital project.
Staff told the council this is an annual financing step tied to a long-running project that originally used a lease-purchase structure and…
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