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Commissioners grant host approval for up to $175 million PFA bonds for Lindenwood Education System project
Summary
Onslow County agreed to serve as host under Internal Revenue Code section 147(f) for Public Finance Authority tax-exempt bonds of up to $175 million to finance acquisition of educational assets, including assets in Onslow County estimated at $2.2 million for Miller-Motte College operations in Jacksonville.
The Onslow County Board of Commissioners voted to provide host approval under section 147(f) of the Internal Revenue Code for the Public Finance Authority(PFA) to issue tax-exempt bonds enabling Lindenwood Education System, a Missouri nonprofit, to acquire certain educational assets and operations.
County legal staff explained the request is a host approval only and that debt…
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