Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the County Finance Bonds topic
No spam. Unsubscribe anytime.
Commissioners authorize pursuit of up to $6.7 million in bond notes; bond counsel engagement approved
Summary
Lawrence County commissioners voted to authorize issuance of not-to-exceed $6.7 million building improvement bond anticipation notes and to engage Dinsmore as bond counsel, both pending prosecutor approval; one commissioner abstained on each vote.
Lawrence County commissioners on April 7 voted to authorize the county to seek building-improvement bond anticipation notes not to exceed $6,700,000 and to engage Dinsmore as bond counsel, actions the board said are pending approval by the county prosecutor.
The board voted on both measures after formal motions. On the bond-authorizing motion, the board recorded one abstention: Commissioner Mike Finley abstained while Commissioner Deanna Holliday and Commissioner Colton Copley voted yes. On the engagement with Dinsmore for bond counsel, Finley again abstained and the two other commissioners voted to approve the agreement "pending prosecutor approval." The board recorded the motions and votes during its regular business session.
Commissioners did not provide further details during the meeting on the schedule for issuing the notes, the precise projects to be funded by the borrowing, or the expected repayment source. The motions as recorded in the meeting minutes say the actions are contingent on prosecutor approval.
Next steps: the county attorney/prosecutor must review and approve the bond-counsel engagement and the proposed authorization before any notes are issued or engagement is executed. The board did not adopt a final financing ordinance at the meeting and did not provide a timeline for issuance.
Outcome: Both measures carried with two affirmative votes and one abstention; both remain subject to prosecutor review and subsequent administrative steps.
