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Macon County approves financing terms to build new Franklin High School, votes split 3-2
Summary
After a public hearing, the Macon County Board of Commissioners approved preliminary and final resolutions authorizing limited-obligation bonds to finance a new Franklin High School; the board voted 3-2 on both resolutions. The county expects a Sept. 11 bond offering and a Sept. 26 closing.
Macon County on Aug. 13 approved financing steps to build a new Franklin High School, voting 3-2 to adopt both a findings resolution and a final resolution authorizing limited-obligation bond financing.
Mitch Brigulio of Davenport Public Finance told the Board that a public sale of limited-obligation bonds was producing better interest rates than direct bank loans, and that the county expects the Local Government Commission to consider the application Sept. 10. According to Brigulio, the bonds will be offered Sept. 11, when interest rates will be set, and the closing is scheduled for Sept. 26 when funds will be…
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