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Nelson County authorizes interim financing to advance DSS building and high‑school renovation
Summary
The Board approved a financing plan using two tax‑exempt lease revenue bond anticipation notes (up to $2.5M for school renovation and $1.7M for a Social Services building) and accepted First National Bank’s drawdown proposal to preserve county cash and access funds as needed.
The Nelson County Board of Supervisors on April 9 authorized interim financing to fund initial design and startup costs for two capital projects: a new Department of Social Services facility and renovations to Nelson County High School.
Davenport & Company presented results from an RFP and recommended First National Bank’s drawdown option for two tax‑exempt lease revenue bond anticipation notes — a $2.5 million note for initial high‑school renovation costs and a $1.7 million note for the county’s Social Services project. The board approved Resolution R2024‑28 by a 5–0 roll‑call vote.
Roland Kooch, Davenport’s financial advisor, said the…
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