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County hears plan for up to $12 million bond to renovate courthouse
Summary
Municipal adviser Greg Yaritas presented a financing plan for a proposed courthouse renovation with a not-to-exceed bond amount of $12,000,500 and estimated project cost about $12.3 million; commissioners were advised to choose a 15- or 20-year term before the county council resolution is finalized.
Greg Yaritas, a municipal adviser with Financial Solutions Group, presented the county's financing analysis for a proposed courthouse renovation, saying "the bond amount that we're talking about is 12,000,500," and that the project itself is estimated at roughly $12.3 million. Yaritas told commissioners the analysis includes both 15- and 20-year amortization options and showed estimated annual debt payments of about $1,000,000 under either scenario.
Yaritas said property taxes are written in the lease agreement as the primary source of lease rental payments, but the county can…
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