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Scott County approves 20‑year loan for school projects; public questions cross‑border student costs
Summary
The Scott County Board of Supervisors voted to approve parameters for a 20‑year Capital One loan to finance school capital projects and authorized county officials to sign final documents.
The Scott County Board of Supervisors voted to approve a resolution authorizing the county to proceed with long‑term financing for school capital projects, setting maximum borrowing parameters and empowering county officials to execute final loan documents.
Austin Sachs of Davenport, the county—s financial adviser, told the board the recommendation was to proceed with a fixed rate, 20‑year loan from Capital One and that bond counsel had prepared draft financing documents in the resolution packet. The resolution sets ceiling limits for principal,…
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