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Commissioners approve findings resolution for $145M limited obligation bond process
Summary
The board approved findings resolutions allowing Buncombe County to move forward with a not‑to‑exceed $145 million limited obligation bond issuance (including $47 million reimbursable) and authorized steps to align deed of trusts and seek Local Government Commission approval; two related resolutions for government facilities and schools were approved by voice vote.
Finance Director Melissa Moore told the board the findings resolution for the county’s 2026 limited obligation bond (LOB) sets a not‑to‑exceed amount of $145 million, authorizes reimbursement of up to $47 million in prior project expenses, and aligns collateral by creating a 2026 deed of trust for county assets while modifying the 2015 deed of trust for school assets.
Moore said the package covers Buncombe County school projects, Asheville City Schools projects, county projects and a potential refunding if market conditions make it advantageous. She also described the related general obligation bonds the county plans to issue (a not‑to‑exceed $36.5 million round covering open space and affordable housing) and noted next steps: return to the board April 21 for issuance resolutions and move forward with required LGC (Local Government Commission) applications.
The board opened a public hearing on the LOB (no members of the public spoke) and then approved separate motions to adopt the LOB resolution for governmental facilities and the LOB resolution for schools; both passed by voice vote. There was no roll‑call tally recorded in the transcript.
Commissioners said they expect to see the recommended budget materials on May 2, a budget public hearing on May 19 and budget adoption June 2 as part of the timeline for associated tax and appropriation decisions.
