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Summit County authorizes parameters for up to $30M in sales‑tax bonds to pursue county facility purchase
Summary
Council adopted Resolution 2024‑07 authorizing staff to pursue sale/placement of up to $30 million in sales‑tax‑backed revenue bonds to acquire and renovate a county facility (the 'Skullcandy' site); staff and advisors recommended private placement for callability despite higher estimated rates and a June 26 public hearing is scheduled.
The Summit County Council adopted Resolution 2024‑07, a parameters resolution authorizing the issuance and sale of up to $30,000,000 in state sales‑tax revenue bonds to support county capital projects, including negotiating purchase and renovation of a large facility near the junction area commonly referred to in staff briefings as the 'Skullcandy facility.'
Staff presented transaction options and brought outside advisers: a financial adviser from Zions Bank and bond counsel from Gilmore…
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