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2009 - 09-21-09 Regular Meeting
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2009 - 09-21-09 Regular Meeting
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10/7/2009 3:39:50 PM
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10/7/2009 3:37:41 PM
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Admin-Clerk
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Minutes
Committee
Board of Commissioners
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BOOK 23 F„~C 54 <br />our fund when the bonds are issued- A Resolution will be presented at the meeting authorizing <br />this loan <br />After August 17`" - Schedule meeting with Local Government Commission to discuss structure of <br />issuing debt for the Project_ <br />August 19t° - Hite & Associates begin design work on the renovation - Phase 2. <br />September 20m - Meeting with Board of Education and Hite & Associates to give update on design <br />work - show plan of renovation and reconstruction <br />October 1s'- Hire Bond Counsel and Financial Advisor to help find market for QZAB and QSCB bonds <br />December 1" - begin the issuance of debt QSCB will be first. QZAB will be issued once bidding starts <br />as will the borrowing of any additional dollars to complete the project. County can now borrow up to <br />$30,000,000 in bank qualified loans (ends December 31, 2010), up from $10,000,000 This will save <br />the County a considerable amount of money in issuance costs versus bonds or COPS. <br />
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