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Council set to hear public‑hearing on Butterfield Trail Village revenue bonds issued via Public Facilities Board
Summary
Butterfield Trail Village presented a plan for a 40‑bed assisted‑living expansion and said the Fayetteville Public Facilities Board will issue conduit revenue bonds with Butterfield Trail Village as the obligor; bond counsel said the city is not financially liable because the board acts as a conduit issuer for a qualified 501(c)(3) bond.
At the agenda‑planning session, representatives of Butterfield Trail Village described a proposed assisted‑living expansion and explained a financing plan that would use the Fayetteville Public Facilities Board as a conduit issuer.
Kevin Spears, CEO of Butterfield Trail Village, told council members the project is a roughly 40,000‑square‑foot, 38‑room assisted‑living building intended to meet contractual obligations to current…
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