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Florence County Council approves up to $12 million in public facilities bonds for capital projects
Summary
Council gave final approval to Ordinance No. 40‑2025/26 authorizing up to $12,000,000 in installment purchase revenue bonds to finance county facility acquisition, construction, renovation, and reimbursement of prior capital expenditures.
On third reading Council approved Ordinance No. 40‑2025/26 authorizing the Florence County Public Facilities Corporation to issue up to $12,000,000 in installment purchase revenue bonds (Series 2026) to fund capital projects, renovations, and reimburse prior capital expenditures. Vice‑Chair C. William Schofield moved the ordinance and Councilman Stoney C. Moore seconded; the motion passed unanimously.
The ordinance authorizes execution of related lease, purchase and trust agreements and contemplates assignment of certain payment rights to a trustee for the bonds. County staff described the bonds as funding acquisition, construction, renovation and expansion of county facilities; details on the specific projects to be funded from bond proceeds were not enumerated on the meeting record and will be subject to subsequent agreements and documentation.
