TITLE
Title
REIMBURSEMENT RESOLUTION FOR TAX-EXEMPT INSTALLMENT FINANCING FOR CERTAIN CAPITAL EXPENDITURES
end
SPONSOR
Sponsor
Donald Warn
end
BACKGROUND
Background
The Board of Commissioners adopted the FY 2025-26 budget which included the purchase of county vehicles. The County will seek financing through a financial institution not to exceed $7,167,000 with a repayment term of four years.
The FY26 financing is for the purchase of thirty-six (36) vehicles for Law Enforcement (or up to $3,195,000), eight (8) ambulances for Emergency Services and one (1) remount box (or up to $3,105,000), and sixteen (16) vehicles for County fleet (or up to $867,000).
end
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.
end
REQUESTED ACTION
Requested Action
Adopt reimbursement resolution for vehicle financing.
end