TITLE
Title
REIMBURSEMENT RESOLUTION FOR TAX-EXEMPT FINANCING FOR CERTAIN CAPITAL EXPENDITURES
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SPONSOR
Sponsor
Donald Warn
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BACKGROUND
Background
The Board of Commissioners committed to provide funding for the Guilford County Community College aviation phase 1 project in the amount of $11,100,000 at the April 18,2024 work session. The approved item anticipated a future debt issue to fund the project which requires the approval of a reimbursement resolution to ensure the County can be reimbursed for expenditures incurred between the date the project was approved and the date the debt is issued.
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RESOLUTION
Resolution
Resolution of the Board of Commissioners for the County of Guilford, North Carolina, declaring its intent to reimburse said county from the proceeds of one or more tax-exempt financings for certain capital expenditures.
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REQUESTED ACTION
Requested Action
Adopt a reimbursement resolution for the Guilford County Community College aviation phase 1 project financing in an amount not to exceed $11,100,000.
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