Ordinance authorizing $9.7M bond sale scheduled to get final reading tonight
By T&D StaffMonday, May 12, 20084 comment(s) | Default | Large
Orangeburg County Council has scheduled a special meeting for 6:30 p.m. this evening to consider third and final reading of an ordinance to provide for the issuance and sale of almost $10 million in general obligation bonds.
Orangeburg County Administrator Bill Clark has said that proceeds from the $9,715,000 bond sale will be used for five main areas: to purchase vehicles and equipment for various departments, including emergency services and law enforcement; to prepay outstanding equipment lease obligations; to acquire approximately two parcels of land totalling 183 acres that will be used for a new industrial park and to expand an existing park; to extend and improve a water treatment plant in the eastern part of the county; and, to pay the costs of the bond issuance.
According to state law, based on the assessed value of its taxable property, the county can borrow up to $19,332,486 without referendum approval. The issuance of the $9.7 million in bonds would bring the county’s total issuance to $17.5 million.
hello wrote on May 14, 2008 12:15 AM:
Tigger_616 wrote on May 12, 2008 2:18 PM:
hello wrote on May 12, 2008 8:49 AM:
hello wrote on May 12, 2008 8:47 AM: