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Council gives first reading to ordinance to streamline issuance of up to $405,000 in general obligation bonds
Summary
Council held the first reading of Ordinance No. 02012026 to amend procedures for issuance and sale of general obligation bonds up to $405,000 for purchase of heavy equipment; proposed changes allow presale notices to speed closing and permit council to amend eligible purchases by resolution.
Newberry County Council gave first reading to Ordinance No. 02012026 on Feb. 4, a proposal to amend and restate prior authorization for issuing general obligation bonds not exceeding $405,000 to fund purchases of a triaxle dump truck, a 20–25-ton trailer and a 6,500-series utility truck.
A county staff member identified as Jack explained that…
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