Wednesday, August 7, 2019
Staff report
YOUNGSTOWN
Mahoning County commissioners approved the issuance of about $16.5 million in one-year general obligation notes for 2019, about $8.9 million of which are for new bonds to fund a multitude of countywide projects, officials said.
Some of the issuances with larger dollar amounts are for repair and replacement of heavy equipment used by the county engineer, replacement and improvement of waterlines in Milton Township and replacement of roofs and HVAC improvements at both the county jail and Martin P. Joyce Juvenile Justice Center.
The remaining notes have been rolled over from last year – when the majority of them were issued – including notes for waterline and sanitary-sewer improvements in Milton Township and emergency upgrades and renovations to the county sewer system’s treatment plant, Audrey Tillis, commissioners’ executive director, said Tuesday.
The total $16,551,735 in notes approved includes about $3.4 million now going into long-term debt service this year, Tillis said. About $2.8 million of that paid for improvements and renovations at Oakhill Renaissance Place – specifically the county’s Jobs and Family Services office and its microfilm services – and about $565,000 went toward construction of the county’s new dog shelter on North Meridian Road, she said.
In September, Standard and Poor’s credit rating agency increased the county’s bond rating from A+ to AA-, allowing officials to borrow at better rates and on its own credit standing, without the need to purchase bond insurance.
Last year, the county sought $7.4 million in new general obligation notes, officials said at the time.