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Board directs staff to draft bond intent resolution as consultant warns of spending deadlines
Summary
A financial consultant briefed the board on bond timeline and IRS rules requiring timely expenditure of bond proceeds; the board voted unanimously to draft an intent resolution to preserve borrowing options while staff assesses how to obligate 2024 bond proceeds and plan future projects.
A governmental consultant told the Oktibbeha County Board of Supervisors the legal timeline for issuing new debt requires public notice and allows a 24‑month window from an intent resolution to finalize borrowing; the consultant also reminded the board that IRS rules generally require that 85% of…
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