Gaston County - File #: 20-425

• File #: 20-425
• Type: Resolution (Consent)
• Status: Passed
• File created: 9/2/2020
• In control: Financial and Management Services - Budget
• On agenda: 9/22/2020
• Final action: 9/22/2020
• Enactment date: 9/22/2020
• Enactment #: 2020-252
• Title: Commissioner Philbeck - Finance - To Adopt a Resolution Authorizing the Issuance of General Obligation Refunding Bonds
• Sponsors: Tracy L. Philbeck
• Related files: 20-391, 20-497

Date	Ver.	Action By	Action	Result
9/22/2020	1	Board of Commissioners	approved	Pass

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Commissioner Philbeck - Finance - To Adopt a Resolution Authorizing the Issuance of General Obligation Refunding Bonds

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STAFF CONTACT

Tiffany Murray - Finance Director - 704-866-3032

BUDGET IMPACT
budget

N/A

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BUDGET ORDINANCE IMPACT

N/A

BACKGROUND

The County is pursuing an opportunity to refund its 2017 School and G.O. Refunding Bonds. With the recent decline in tax-exempt borrowing rates, the public sale of these select loans would result in an estimated $4.3M-$4.5M in savings depending on the market rate at time of sale. The attached resolution authorizes the issuance of bonds in accordance with the refunding bond order adopted at the August 25^th meeting.

POLICY IMPACT

N/A

ATTACHMENTS

Resolution