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Board approves $5.2 million lease-revenue financing for landfill Cell 2; Goodwin Building pledged as collateral
Summary
The Board approved a financing package to fund construction of landfill Cell 2 using a $5.2 million lease-revenue structure, pledging the Goodwin Building as collateral and directing the county administrator to execute closing documents.
The Amherst County Board of Supervisors voted on March 18 to approve a financing package to fund construction of landfill Cell 2 and to authorize staff to execute related documents.
RT Taylor, a representative of Davenport & Company, which is serving as the county's financial adviser, presented the recommended financing. Taylor said the proposal calls for issuing $5,200,000 in lease-revenue debt through the Amherst County Economic Development Authority as a conduit issuer; the county would remain responsible for debt service. "We're gonna look at issuing $5,200,000, and that will cover any…
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