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Committee recommends reissuing $14.22 million bond anticipation note to cover sports-facility repairs
Summary
Cuyahoga County committee voted to recommend second-reading suspension on a resolution to reissue up to $14.22 million in limited-tax general obligation bond anticipation notes to pay for capital repairs at two county sports facilities; county advisers estimated an interest rate decline from 4.65% to about 4.06% for the new one-year note.
Cuyahoga County's finance committee on Nov. 12 recommended moving forward with Resolution 2025-0304 to reissue up to $14,220,000 in limited-tax general obligation bond anticipation notes that originally financed major repairs to county sports facilities.
Bob Franz, the county's financial adviser, told the committee the county sold the existing note directly to the county treasurer at a 4.65% rate earlier in the year and that the treasurer's purchase remains in place. "We have…
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