Alamance County

Information Item
Mar 2, 2020 9:00 AM

Bond Debt Update


Department:County ManagerSponsors:
Category:Informational Update


  1. Printout

Issue/Action Requested

Bryan Hagood, County Manager, will give an update regarding the expected issuance dates for bond debt intended to finance the bond projects for Alamance-Burlington School System and Alamance Community College.

Meeting History

Mar 2, 2020 9:00 AM  Alamance County Board of Commissioners Regular Meeting

County Manager Hagood provided an update on the bond debt issuance and the county capital projects. He summarized that the main things going on with the school system and the community college was they were working on tweaking their projects. In particular, the timing of their projects. He indicated that one of the ways the county could save money was by limiting the number of times debt was issued. County Manager Hagood reviewed the debt issuance schedule. He indicated that there were three times that debt was scheduled to be issued: May 2020, September 2020 and March 2021. He said that the school system had refined their debt issuance needs to only 2 debt issuances; September 2020 for an issuance of $96.3 million and March 2021 for an issuance of $53.7 million. County Manager Hagood spoke that the community college initially had 5 different bond issuances which stretched from May 2020 all the way to September 2022. He noted that the college had worked to combine some of their projects and had trimmed their debt issuance schedule down to 3. The community college was now looking at March 2021 for an issuance of over $17.5 million for the Center of Excellence and the parking; September 2021 for an issuance of $17.6 million for the construction of the Public Safety Training Center, Student Services Center, and the Satellite Campuses; and the final debt issuance scheduled for September 2022 for a little over $4.4 million for the classroom modernization and the childcare facility.

County Manager Hagood briefly reviewed some of the county's capital projects that he had reviewed with the Oversight Committee.