Item:
Title
Adoption of Bond Resolution for Not to Exceed $100,000,000 General Obligation Bonds, Series 2026A
Body
Date of BOCC Meeting: May 26, 2026
Request for Board Action:
Agenda Text
The Board is requested to adopt the Bond Resolution authorizing the issuance of the County’s proposed General Obligation Bonds, Series 2026A, in an amount not to exceed $100,000,000. The Series 2026A Bonds are being issued pursuant to three Bond Orders previously adopted by the Board on July 11, 2022 and approved by the voters at a referendum held on November 8, 2022, consisting of: (1) a Bond Order authorizing up to $423,505,000 General Obligation School Bonds; (2) a Bond Order authorizing up to $112,740,000 General Obligation Community College Bonds; and (3) a Bond Order authorizing up to $13,995,000 General Obligation Museum Bonds.
The Bond Resolution requests that the Local Government Commission of North Carolina sell the Series 2026A Bonds through a competitive sale to the bidder whose bid results in the lowest interest cost to the County.
Alignment with Strategic Plan: This request aligns with the County’s Goal of Financial Stewardship.
Resource Persons: Crystally Wright, Chief Financial Officer, Joe Futima, Assistant Chief Financial Officer and Claudia Hager, County Manager
County Manager’s Recommendation: The County Manager recommends the Board adopt the Bond Resolution authorizing the issuance of the Series 2026A Bonds and providing for the terms thereof.
Signature
County Manager: ____________________________