by Jackie Nunnery
LANCASTER—Supervisors have recently approved a slew of public projects requiring an additional $25 million to get the county over the finish line over the next 12 months or so. Ted Cole of Davenport Public Finance offered some funding options at the Thursday, March 27, board meeting.
The county needs $15 million to complete the high school, having already issued a nearly $60 million bond through the Virginia Public School Authority (VPSA). Cole said there are a number of potential lending sources, but the “beauty of VPSA was that you could easily go 25, 30 years if you want to. Banks can’t really do that beyond 20 years.”
Cole said the Virginia Department of Education Literary Loan Fund might not be a favorable option because interest rates and funding allocations are tied to the composite index and….
