Clay County approves sales‑surtax bond issuance to fund fire stations, 5‑0

The Clay County Board of County Commissioners voted unanimously June 11 to authorize the sale of County Sales Surtax Revenue Bonds Series 2024 to finance designated capital projects, including fire stations and a communications tower.

County financial adviser Jeremy (PFM) told commissioners the deal has received strong ratings: Standard & Poor’s affirmed an A+ and Fitch assigned a AA, and the issuer default rating was raised in the materials presented. The board approved a resolution that authorizes the county to price the bonds and for the chair and county clerk to execute closing documents. The bond sale is scheduled to be priced on June 25, with an anticipated closing in mid‑July.

Courtney (county staff) said the resolution is the final step before the sale and that staff and underwriters — including Bank of America — have been preparing required disclosure documents. Jeremy said market conditions had recently improved but that summer calendar items (inflation data and Fed minutes) make timing important for pricing.

Commissioners asked about the schedule and the final resolution number; staff identified the resolution in the record as Resolution 2023/2024‑57 (as spoken during the meeting). After brief questions, Commissioner [unnamed in transcript] moved and a second was recorded; the motion passed 5‑0.

The board did not set the precise interest cost in open session. Closing documents and final pricing were authorized to be executed by the chair and county clerk once available. The resolution directs county staff to continue coordinating with bond counsel, the underwriter and the financial adviser to complete the sale.