Following that meeting, Rollins said further information will be presented to board at its March 7 meeting.
The county attorney told the board there are two financing options available.
One is traditional installment financing through a bank for the anticipated $18 million debt. “You're looking at a 15-year term,” Rollins said, explaining at this point the interest rate is not clear. “We may could get a 20-year term.”
The county could go through a public offering with obligation bonds he told the board. “You get a longer term on bonds and an interest rate between 4 to 4 ¼ percent. The longer the maturity date, the higher the rate you're going to have pay. It's a lot of money but options are limited.”
Commissioners agreed to continue deliberating the matter.
