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Commissioners approve tax-exempt project revenue bonds for Encore Connects
Summary
Bertie County commissioners held a public hearing and voted to approve a resolution consenting in principle to tax-exempt project revenue bonds to support Encore Connects’ broadband expansion across four counties.
The Bertie County Board of Commissioners on June 30 held a public hearing and approved a resolution consenting in principle to the issuance of tax-exempt project revenue bonds for Encore Connects. Connor Cruz, representing Encore Connects by Zoom, said the nonprofit is using federal grant dollars and tax-exempt financing through the Public Finance Authority of Wisconsin to expand broadband service in Bertie, Martin, Granville and Halifax counties.
"As a 5 0 1 c 3 nonprofit organization, Encore Connects is eligible to borrow on a tax exempt basis," Cruz said during his presentation. He explained the bonds would be Encore’s debt and would not appear on the county’s financial statements or audits. After brief questions from commissioners, the board approved the resolution by voice vote with no recorded opposition.
The board’s approval follows similar actions by Halifax, Granville and Martin counties; Cruz said Bertie County’s action was the last county signoff needed. The resolution authorizes the county to adopt the required local approval under federal tax rules after the public hearing; it does not obligate county funds to repay the bonds.
