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Kernersville board approves $16.3M loan for capital projects, establishes grant fund and adopts budget amendment
Summary
The Board of Aldermen awarded a $16,298,000, 10-year loan to finance town facility improvements, set up a state grant project fund for remaining OSBM grant money, and adopted Budget Amendment No. 7 to move appropriations; all votes were unanimous.
The Town of Kernersville Board of Aldermen approved a package of fiscal actions Jan. 28 that included awarding a $16,298,000 loan to Webster Public Finance Corporation to finance multiple capital projects, establishing a separate grant project ordinance fund for a North Carolina Office of State Budget and Management award, and adopting budget amendment No. 7 for fiscal year 2025–26.
Curtis Swisher presented the financing recommendation, saying the town solicited three lender quotes and recommended Webster Public Finance Corporation’s 10-year loan at a 3.84% interest rate. The loan is…
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