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Sevier County authorizes up to $10 million in bonds to finish court building financing
Summary
The Sevier County Commission unanimously authorized issuance of up to $10 million in general obligation bonds to complete court-building financing; the county’s financial adviser said fees would not exceed 0.5% (~$50,000) and estimated market rates near 3.6%–3.75% for a 20-year issue.
On Nov. 18, 2024, the Sevier County Commission voted 20–0 (4 absent) to authorize issuance of general obligation bonds, series 2024, in an aggregate principal amount not to exceed $10,000,000 to help finance county court buildings.
The authorization, presented by financial adviser Joe Ayers, is intended to complete recent court-building financing that the county says totals about $35,000,000 in construction costs; the county is currently retiring roughly $10,000,000 per year on court-related debt, Chairman Larry Waters said. “This will be the last bonds issued for the courts buildings that have…
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