County Council Approves $8 ¼ Million Bonds

Laurens County Council has given final approval for financing that will fund new capital projects as well as refinance other projects already underway. A public hearing was held last evening prior to the 3rd reading vote. No one voiced an opinion during the public hearing. The final vote to approve the financing was unanimous.

County Attorney Sandy Cruickshanks explained, “This ordinance will provide for the issuance of general obligation bonds in the amount not to exceed $8,250,000 to fund certain capital projects and refund, all or a portion of, the county’s $6,400,000 original principal amount general obligation bonds series 2010.”

Cruickshanks has stated that the refinancing of the 2010 bonds should save the county some $100,000 in interest payments.

In addition to refinancing the 2010 bonds, this bond series is to reimburse the county for the just over $1.5 million being spent to repair the roof and the air conditioning system for the Hillcrest Square Court and Services complex.

New projects looking for funding include stabilization of the Historic Courthouse, a new EMS headquarters building and updating rural firefighting equipment.

When County Administrator Jon Caime introduced a Fiscal Year 2019/2020 budget March 12th of this year, he noted the overall needs for capital improvements exceed the county’s capacity to fund them, but said “we have two top capital improvement plan projects identified by council that need to be funded now.”