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Gallatin County approves resolution of intent to form RID to refinance Fort Ellis Fire Service Area debt
Summary
Commissioners approved a resolution of intent to create Rural Improvement District No. 2628 to refinance Fort Ellis Fire Service Area indebtedness, authorizing bonds of up to $5.7 million and outlining assessable‑value assessments; a 30‑day protest period opens after first publication and a Dec. 16 hearing is set to consider protests.
Gallatin County commissioners on Nov. 4 approved a resolution of intent to create Rural Improvement District (RID) No. 2628 to refinance debt incurred for improvements to the Fort Ellis Fire Service Area.
Nathan Bilyeu, bond counsel with Jackson, Myrtle & Grant, told the commission the district’s current outstanding indebtedness totals $5,222,116.34 and the resolution would authorize bonds up to $5,700,000 to allow flexibility for rating and bond insurance if the county chooses that route. "If we can qualify these bonds for both a rating and bond insurance, we'll actually be…
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