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Gaston County finance advisers report strong bond sale, $125M–$150M CIF capacity over five years
Summary
Financial advisers told the Gaston County Board of Commissioners the county’s recent $190 million general-obligation bond sale drew strong investor demand, supporting the county’s high credit rating and leaving an estimated $125 million to $150 million in Community Investment Fund capacity for the next five years under conservative assumptions.
The Gaston County Board of Commissioners heard an update April 22 on the county's recent general-obligation bond sale and on the Community Investment Fund (CIF) capacity for future capital projects.
In a presentation, Doug Carter, finance advisor with Dec Associates, told commissioners the county sold the remaining $190 million of 2018 voter-authorized school bonds at an all-in cost “just at a 4.01%” for 20-year money and described the sale as well-timed in the market. Carter said the sale reflected investor confidence in the county and the strength of staff's presentation to rating agencies.
The update said the county holds a AAA rating from Moody's and an AA+ from Standard & Poor's. Carter and…
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