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Board approves financing plan to close out county radio system; Davenport recommends JPMorgan proposal
Summary
Davenport & Company recommended a 15-year fixed-rate loan from JPMorgan Chase to fund the remaining $2.5 million needed for the public-safety radio project; the board approved the financing resolution unanimously and staff will seek IDA and bond-counsel approvals to close the Series 2024 bond.
Jay Allen, associate vice president at Davenport & Company, presented financing recommendations to secure roughly $2.5 million to complete the county’s public-safety radio system.
Davenport said the county received several competitive proposals and recommended JPMorgan Chase’s fixed-rate, 15-year term as the most favorable offer. The recommended structure includes a call provision…
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