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Hearing Held on One-Year Airport Bonding

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Hearing Held on One-Year Airport Bonding

Tuesday, December 3, 2019

The Legislature held a public hearing regarding the 2020 issuance of $10 million in Airport Bond Anticipation Notes (the hearing held in accordance with Section 147(f) of the Internal Revenue Code to ensure that the bond issue is exempt from Alternative Minimum Tax.) One person spoke at the hearing, Barbara Regenspann urging that the Customs Facility be eliminated from the Airport project, that the project be renegotiated, and that no bonds be issued.

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 said the one-year BAN will give the County some time to determine what the ultimate financing options will be.  County Administrator Jason Molino reported construction of the Customs Facility is underway and that the terminal expansion will be completed within the next couple of weeks.