Title
Hold a public hearing to receive public comment on authorizing refunding of limited obligation bonds and adopt an approving resolution regarding series 2025 limited obligation bonds refunding
Abstract
Introduction & Background: Chatham County is seeking financing in an amount not to exceed $30,000,000 to refinance a portion of the County’s existing debt obligations.
Discussion & Analysis: At the July 21, 2025 Board of Commissioners meeting, a resolution was approved to authorize the County Manager and Finance Officer to proceed with the interim refinancing as follows:
• Negotiate with advice from the County Attorney and Bond Counsel on behalf of the County for the refinancing for a principal amount not to exceed $30,000,000.
• File with the Local Government Commission an application for its approval of the amendment and all relevant transactions.
• Retain the assistance of Parker Poe Adams & Bernstein LLP, Raleigh, NC, as bond counsel; DEC Associates, Inc., Charlotte, NC as financial advisor; BofA Securities, Inc., Charlotte, NC as underwriter.
The next step in the process is to hold a public hearing to obtain public input on the proposed borrowing.
How does this relate to the Comprehensive Plan: Demonstrate sound fiscal stewardship to ensure we can meet the important service needs of our residents.
Budgetary Impact: Net savings over the life of the refinancing.
Recommendation/Motion: Hold a public hearing to receive public comment on authorizing refunding of limited obligation bonds and adopt an approving resolution regarding series 2025 limited obligation bonds refunding.