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Jefferson County approves up to $5 million bond for Department of Social Services renovation
Summary
The Board of Legislators authorized issuance of up to $5 million in serial bonds to fund reconstruction and improvements at the Department of Social Services building, delegating sale authority to the County Treasurer and pledging the county's faith and credit.
The Jefferson County Board of Legislators voted April 7 to authorize the issuance of serial bonds not to exceed $5,000,000 to finance reconstruction and improvements to the County Department of Social Services building. The resolution sets a maximum estimated project cost of $5 million to cover an addition, ventilation system upgrades and related equipment and furnishings.
The bond resolution, introduced by Legislator Robert W. Cantwell, III and seconded by Philip N. Reed, Sr., directs the County Treasurer to handle details of bond sale and permits the temporary use of available county funds pending issuance. It also includes the required publication notice, secondary market disclosure language consistent with SEC Rule 15c2-12 and a determination that the property qualifies under Local Finance Law maturity and usefulness provisions.
A related resolution, adopted earlier in the meeting, determined the DSS renovation to be a Type II action under the State Environmental Quality Review Act, finding no further SEQRA review necessary.
The roll-call adoption recorded ayes from the majority of legislators with several absences noted. The Board delegated authority to the County Treasurer to structure maturities and issue bond anticipation notes if necessary; the resolution pledges the county's general obligation and directs inclusion of amortization in annual budgets.
Next steps include execution of contracts and bond sale preparations under the Treasurer's delegated authority and any County Attorney review required before final agreements are executed.
