by AnnGardner Eubank
KILMARNOCK—The Kilmarnock Town Council on Monday, July 20, adopted a resolution authorizing the issuance and sale of a general obligation and sewer revenue bond not to exceed $3,150,000.
Arthur Anderson with Spilman Thomas & Battle spoke to council regarding the particular component of the sewer project’s financing portfolio.
The capital improvement project, enhancing the wastewater treatment plant, has been on-going in phases.
Anderson added that the interest rate will not exceed 7%, and the notes would not be sold at less than 98% of their face value.
The resolution speaks to the town’s full faith and credit toward the bond, noting the town gives its absolute, unbreakable guarantee to repay the….
