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County adviser outlines $49M school-project scenarios, cites $26.9M unassigned fund balance
Summary
Financial adviser Jimmy Sanderson told supervisors the school project is just north of $49 million and presented financing options using a literary loan and the county's $26.9 million unassigned fund balance; he modeled tax "penny" impacts and scenarios for timing and borrowing terms.
Jimmy Sanderson, the county's financial adviser, presented capital-planning scenarios to the Board of Supervisors on Thursday that translate the schools' completion project into multi-year borrowing options and potential real-estate-tax impacts.
Sanderson told the board the total project cost for the school work was "just north of $49,000,000" and ran two principal scenarios using a literary loan: a 20-year amortization and a 25-year amortization that would slightly reduce annual penny impact but requires Department of Education approval. He said assumptions include interest rates tied to…
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