South Lane County Fire and Rescue News Blog
Bond Sale Awarded
May 4, 2016
SLCFR is happy to announce an agreement for the sale of the 2015 General Obligation Bond. The agreement reached to sell the bond resulted from a competitive process involving 13 financial entities.
Special Districts of Oregon (SDAO), acted as the agent for SLCFR during the process. The bond sale was awarded to Zion’s Bank. The deal was reaffirmed by the SLCFR Board of Directors at a special board meeting held May 3, 2016.The sale of the bond is expected to be finalized by June 1st 2016.
This was good news for tax payers in the SLCFR district. The interest rate was settled at 1.38% for the life of the bond. The bond sale will generate 2.57 million dollars for the purchase of the new fleet which is expected by summer of 2017.
The deal with Zion’s Bank means tax payers will pay less than the anticipated $0.30/$1000 of assessed property value. The estimated taxing rate at this time is $0.2859/$1000 of assessed property value. Under the terms of the accepted offer from Zion’s Bank, the District can pay the bond off early without penalty.
The next step will be to finalize the purchase agreements with Hughes Fire Equipment (Pierce Manufacturing) for the new fleet. We are very thankful for the support of our patrons at SLCFR. Please check our website at www.southlanefire.org for updates and status on the delivery of the new fleet.