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Halifax commissioners approve in principle $25M bond support for regional broadband expansion
Summary
The board approved a resolution April 6 permitting a public hearing requirement to be satisfied for tax‑exempt bonds enabling Encore Connects to expand fiber service to roughly 8,500 additional addresses in Halifax County; the action is limited to approving the financing principle, not county debt.
The Halifax County Board of Commissioners unanimously approved a resolution April 6 that satisfies federal tax‑code requirements for tax‑exempt financing and clears the way for a Public Finance Authority issuance of up to $25 million for Encore Connects’ broadband expansion in northeastern North Carolina.
Bond counsel Connor Cruz of McGuireWoods explained that the Public Finance Authority, a Wisconsin entity, would issue project revenue bonds for the benefit of Encore, a 501(c)(3) formed to acquire and expand fiber assets. Federal tax…
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