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Council sets intent to consider up to $335 million in bonds; measure referred to Budget and Finance
Summary
Council introduced an ordinance expressing intent to issue up to $335 million in general obligation bonds for refunding and capital projects; the proposal was referred to the Committee on Budget and Finance for further consideration.
An ordinance introduced at the meeting would authorize the county’s intent to issue one or more series of federally taxable or tax-exempt general obligation bonds not to exceed $335 million. The ordinance (13970-26) outlines potential uses including refunding prior bond series (Series C-75, C-76), financing capital projects (design, construction, renovation), purchasing capital equipment, and paying issuance costs.
Council members applauded the item when read into the record; the measure was referred to the Committee on Budget and Finance for further review. No vote on issuance occurred at the meeting; the ordinance text describes procedural steps, including preparation of debt statements and potential approval by the state Department of Community and Economic Development when applicable.
The introduction does not commit the county to immediate borrowing; it sets parameters and authorizes specified officers to pursue required actions if the council later approves bond issuance.
