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Town Council will consider the issuance of final authorized GO Bond funds at their regular meeting next week on Wednesday, February 15, 2023. The bonds are planned to be financed via a private bank placed loan, to be closed in March should the bank offer be approved.
The financing will need to go before the NC Local Government Commission (LGC) for final approval following Town Council acceptance.
Final amounts remaining for the issue of the funds originally authorized in 2014, by majority citizen vote total $1,695,000 ($650,000 Transportation & Sidewalks, $420,000 Parks, $590,000 Water & $35,000 Sewer). In 2014, a bond referendum was passed by majority Citizen vote to issue the Bonds totaling $13 Million
($9 Million Transportation & Sidewalks, $1 Million Parks, $2 Million
Water & $1 Million Sewer).
Over the past several years, the Town has accomplished many important projects utilizing the funds. Plans for the final issuance were discussed in detail at the 2023 Town Council Winter Retreat and included North Main St. sidewalk, Memorial Park Improvements (PartF Grant Match), Maple St & Green St. Water work & Other Lines and Repairs (previously obligated).
The Town looks forward to completing the projects that were a part of the bond issue and further enhancing and preserving our beautiful Town!
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