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Durham County board adopts up to $240 million in general obligation refunding bonds
Summary
The Durham County Board of Commissioners unanimously adopted a bond order and companion resolution authorizing up to $240,000,000 in general obligation refunding bonds, Series 2026B; the clerk disclosed estimated total interest of $97,022,250 and net indebtedness of 1.48% of assessed value.
Durham County commissioners on April 27 voted unanimously to adopt a bond order authorizing the issuance of up to $240,000,000 in general obligation refunding bonds, Series 2026B.
Chair Lee moved to adopt the bond order after a public hearing and the clerks presentation of legal notices and financial disclosures. Clerk Wallace told the board the order had been introduced at the April 13 meeting and published April 20, and that a statement of debt filed with the clerk showed the countys net indebtedness at 1.48% of assessed property value. The clerk also disclosed an estimated total interest cost on the proposed bonds of $97,022,250.
The board closed the public hearing by motion and voted to adopt the bond order and direct the clerk to publish the notice required by the Local Government Bond Act. Commissioners immediately followed that action by moving to adopt a companion resolution providing for issuance of the Series 2026B bonds; the resolution passed unanimously.
The actions set the legal framework for the county to refund existing debt using up to $240 million in general obligation bonds, with additional administrative steps and market conditions to determine timing and final terms.
