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Council approves $11.05 million bond authorization for roads, parks and airport projects
Summary
Council passed Legislative Bill 2026-07 authorizing up to $11,050,000 in general obligation bonds for capital projects (public works, roads, recreation and parks, airport projects and contingency); staff outlined project-by-project amounts and likely issuance timing.
The council unanimously approved Legislative Bill 2026-07, authorizing the county to borrow (on its faith and credit) up to $11,050,000 to finance or reimburse capital projects. Staff listed projects and approximate amounts: salt-body storage ($1,000,000), Leonard's Mill Dam improvements ($1,000,000), Mason and Dixon parking-lot master plan ($1,000,000), airport fire-suppression for hangars ($3,000,900), hangar relocation ($1,600,000), passenger-parking expansion ($2,300,000), plus a $250,000 bond contingency.
Bond counsel and finance staff told council that because of airport revenue features, there will likely be two series of issuances with taxable treatment for the airport portion and tax-exempt treatment for other projects. Staff said they would seek rating affirmation from S&P and Moody's in September, release an RFP in early October, and expect closing in November. The council voted by roll call to pass the bond authorization as presented.
