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Durham commissioners adopt $240 million general obligation refunding bond order
Summary
Durham County commissioners unanimously adopted a bond order and companion resolution authorizing up to $240 million in general obligation refunding bonds (Series 2026B); the clerk reported net debt at 1.48% of assessed valuation and directed publication of adoption notices.
The Durham Board of County Commissioners unanimously adopted a bond order authorizing up to $240 million in general obligation refunding bonds and a companion resolution at its April 27, 2026 regular session.
Clerk Wallace reported that the bond order was introduced at the board's April 13 meeting and published for the required notice period. The clerk said the county's net indebtedness stands at 1.48% of assessed property valuation and read an estimated total interest figure transcribed in the record as "97,22,250." After the clerk's report, the board opened the required public hearing on the advisability and validity of issuing the bonds.
The board provided the public an opportunity to speak; the hearing was then closed by motion and second. With no further discussion recorded, the board moved to adopt the bond order and to direct the clerk to publish the notice of adoption as prescribed by the Local Government Bond Act. Both motions were seconded and passed by voice vote without dissent.
Chair Lee and fellow commissioners used a voice vote format; the record shows the measures passed unanimously. The measures include a directive that the clerk publish the adoption notice as required by state law.
The board also considered and adopted a resolution providing for issuance of the bonds (series 2026B). The resolution and the bond order together complete the board's formal steps to authorize refunding debt up to the stated limit; the clerk will proceed with the required public-notice publication and further procedural steps for issuance.
The county did not provide additional details in the meeting record about the proposed refunding schedule, expected closing date, or planned use of savings. The clerk's read figure for estimated total interest appears in the transcript as "97,22,250"; the record does not contain a clarified, conventional numeric format for that line-item in this session.
The board moved on to other business following the bond actions.
