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Woodbury County approves $1.2 million in general obligation notes to fund county capital projects; staff outlines debt-service plan
Summary
The board approved issuance of up to $1.2 million in general obligation capital loan notes (series 2026A) for projects including jail demolition, an elevator and Little Sioux Park Road work; staff explained a 4-year non-bank-qualified structure with a 4.45% interest rate and described debt-service funding sources and schedule.
The Board of Supervisors approved resolutions to authorize multiple general obligation capital loan notes that together total $1.2 million for county capital projects.
Ryan Erickson (board administration) described the three-purpose borrowing: demolition of the county jail, elevator and technical improvements to the county facility, and Little Sioux Road Park work. He said the three items required separate hearings and resolutions even though they combine to a total borrowing need of approximately $1,200,000.
Ryan described the market and legal…
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