Item:
Title
Adoption of Bond Resolution for Not to Exceed $185,000,000 General Obligation Bond, Series 2026C (Draw Program)
Body
Date of BOCC Meeting: June 22, 2026
Request for Board Action:
Agenda Text
The Board is requested to adopt the Bond Resolution, including Appendix A attached thereto, authorizing the issuance of the County’s proposed General Obligation Bond, Series 2026C (Draw Program), in an amount not to exceed $185,000,000.
The Series 2026C Bond is 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 approve the private sale without advertisement of the Series 2026C Bond to PNC Bank, National Association.
Alignment with Strategic Plan: The action aligns with the strategic focus: Financial Stewardship.
Resource Persons: Crystally Wright, Chief Financial Officer, Joe Futima, Assistant Chief Financial Officer, Claudia Hager, County Manager and Carlos Manzano, Partner, Parker Poe.
County Manager’s Recommendation: The County Manager recommends the Board adopt the Bond Resolution, including Appendix A attached thereto, authorizing the issuance of the Series 2026C Bond and providing for the terms thereof.
Signature
County Manager: ____________________________