Laserfiche WebLink
units in the county. Also, revenL :aonds have been issued to <br />finance the cost -of construction of various capital improvement <br />projects. Deposits from bond revenues are put into the respective <br />bond fund accounts for these projects., whereby funds are <br />specifically designated for a particular project, and user charges <br />are used to pay-off the debt. <br />Industrial Revenue Bonds <br />These bonds are issued by the county and are assumed by companies <br />or industries which use the revenue for construction of plants or <br />facilities. Industries find these bonds attractive since they are <br />tax-exempt bonds which have comparatively low interest rates. The <br />county's advantage in issuing these bonds is that the private <br />sector is responsible for repayment of the debt and that new <br />employment opportunities are created in the community. <br />Special Assessment Bonds <br />Special assessment bonds are bonds issued to pay for capital <br />improvements which impact specific areas or groups of property <br />owners. Proceeds from the assessments levied against benefiting <br />property owners are used to pay-off the bond debt. The issuance of <br />these bonds does not need to be approved by voter referendum. <br />Revenue bonds and special assessment bonds are similar in nature, <br />except that special assessment bond debt is paid -off by assessments <br />levied against benefiting property owners and not from on-going <br />user charges. The county has issued a special assessment bond for <br />solid waste disposal. <br />The -ccmnty- fires-resited--fomr- special -flssessment-bonds:--Fhe? first <br />three - bends- were- tme& aL coextend --the -water-anti-sewer-distributien <br />systems -akong�&*r*- Wr Roc ridge;-and-north�ountp.--1%eotltird-bond <br />will- be--used-f - he-aeiid--waste-diapeanl-i eCr-i-i-ty- f landfi}}} <br />expansion - <br />Anticipation Notes <br />The issuance of anticipation notes is an example of a short-term <br />(less than 5 years) method of financing. Notes usually have higher <br />interest rates than bonds and have shorter maturity dates than <br />bonds. Anticipation notes are issued in anticipation of the <br />receipt by the county of proceeds from the sale of corresponding <br />future bond issues. The county currently has no outstanding <br />anticipation notes. <br />The -eounty-has-one-entstanding-antieipation-nate-whieh-was -issued <br />in-1988.---The-note-is-to-be-used-for-recreational-improvements-in <br />the-North-Beaeh-area- <br />