The Legislature, by unanimous vote, authorized the 2020 issuance of $10 million in one-year Airport Bond Anticipation Notes (the Legislature’s action necessary to comply with Section 147(f) of the federal Internal Revenue Code to ensure that the bond issue is exempt from Alternative Minimum Tax). The one-year note issue will refund and supplement $7.5 million in Airport BANs issued in 2019 to support the Airport improvement project. Finance Director Rick Snyder has noted that the one-year BAN will give the County some time to determine the project’s ultimate financing options.
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