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Claiborne County authorizes up to $2.5 million capital outlay note for building improvements
Summary
The commission approved Resolution 2025-066 to issue a capital outlay note up to $2.5 million for ADA building improvements and Justice Center HVAC and roof replacements, with a 12‑year maturity and a pledge of the county's full faith and credit.
TAZEWELL, Tenn. — Claiborne County commissioners voted unanimously on June 16 to authorize a capital outlay note not to exceed $2.5 million to fund ADA building improvements and replacements to the Justice Center’s HVAC system and roof.
Resolution 2025‑066 authorizes issuance of the notes under Tenn. Code Ann. Title 9, Chapter 21, with a maturity schedule of 12 fiscal years and interest up to 8% per annum. The resolution pledges the county’s full faith and credit for the punctual payment of principal and interest and authorizes levy of a special tax if required to create a sinking fund to retire the notes. The county also approved standard registration, transfer and optional redemption provisions and required that the Comptroller of the Treasury or the Comptroller’s designee approve the sale before issuance.
The motion was made by Commissioner Anthony Rowe and seconded by Commissioner Tim Shrout; the roll call was 21‑0 in favor.
Why it matters: The financing will provide near‑term capital for accessibility improvements and major building system repairs at county facilities; the county will repay the notes over the authorized term and has pledged taxing authority as needed to secure payments.
What’s next: The resolution requires Comptroller approval before the notes may be sold; financing terms (amortization schedule, exact interest rate and sale price) will be set when the county arranges sale with a purchaser.
