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Cleveland County records $75 million Justice Center financing and $5.75 million landfill loan proceeds
Summary
The Board recorded loan proceeds after Local Government Commission approval: $75,000,000 for the Justice Center and $5,750,000 for Landfill improvements and equipment; staff said first debt service payment is not due until FY27.
Finance staff reported that on Nov. 4 the Local Government Commission approved Cleveland County’s request to finance the Justice Center project for $75 million and Landfill Improvements & Equipment totaling $5.75 million. The Board adopted a budget amendment to record $75,000,000 in loan proceeds for the Justice Center project and $5,750,000 in loan proceeds for landfill improvements and equipment; the FY26 budget had previously budgeted $8,250,000 in debt proceeds for the landfill project, and the first debt service payment is not due until FY27.
The amendment was approved unanimously on a motion by Commissioner Deb Hardin. Staff noted the funding will be reflected in the project budgets and that the Justice Center appropriation covers the entire project cost in the project budget; further debt service budgeting will occur in future fiscal years.
