The resolution authorizes the appropriation of bond proceeds to the Debt Service Funds, taking advantage of lower interest rates by issuing new debt and redeeming outstanding bonds
The resolution authorizes the appropriation of bond proceeds to the Debt Service Funds, taking advantage of lower interest rates by issuing new debt and redeeming outstanding bonds, with projected savings of approximately $7.3 million. The appropriation is for two separate amounts: $26,360,000 and $12,050,000. The bond issuance and related debt service payments are factored into the County Executive's Recommended FY27-31 CIP.
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Summary
The resolution authorizes the appropriation of bond proceeds to the Debt Service Funds, taking advantage of lower interest rates by issuing new debt and redeeming outstanding bonds, with projected savings of approximately $7.3 million. The appropriation is for two separate amounts: $26,360,000 and $12,050,000. The bond issuance and related debt service payments are factored into the County Executive's Recommended FY27-31 CIP.