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Summerville council approves up to $47.5 million in bonds for municipal facilities, adds emergency dispatch function
Summary
The council approved amended installment-purchase revenue bonds not exceeding $47,500,000 to fund municipal facilities including a public-safety complex and emergency dispatch; one councilmember voted no citing the absence of a debt-service reserve fund.
Summerville’s Town Council approved an amended ordinance authorizing Somerville Municipal Facilities Corporation to issue installment-purchase revenue bonds not to exceed $47,500,000 to finance the design, construction and equipping of municipal facilities, including an added emergency dispatch function.
Bond counsel Theodore DuBose of Anwar Singler Boyd read amendments at the meeting that added emergency dispatch functions to the facility description, corrected language about council consent for assignments, and named three directors of the municipal facilities corporation:…
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