Fluvanna Supervisors Okay Bond Refinance

By William J. Des Rochers, Fluvanna Field Officer

The Fluvanna Board of Supervisors gave the go ahead to refinance about $4.5 million in school bonds at an otherwise uneventful Board meeting on September 2nd.  Two of the supervisors suggested continuing the consideration into a second meeting in order to obtain better analysis of the cost/benefits of the proposal. 

According to the county’s bond advisor, the county would save a net $1 million over the life of the loan, however, because of Davis-Bacon requirements, the initial outlay for school construction would be at least $750,000.  Supervisor Charles Allbaugh questioned the accuracy of that projection, and supervisor Gene Ott wondered about the future cash value of the initial outlay.

The rest of the Board favored going forward, however, and the county staff anticipates completing the process by mid-September. 

In other matters, supervisors:

  • Appointed Mr. John Alexander to an at large position on the Economic Development Commission;
  • Authorized a request for proposal to procure a municipal software system; and,
  • Awarded a $1 million contract for a phase two pipeline extension for the Palmyra sewer system.

Chairman Marvin Moss requested that the supervisors concur with a letter he drafted to the Department of Conservation and Recreation regarding their proposed stormwater runoff regulations.  The letter focuses exclusively on the burdens that the regulations would create for local government, and does not address the effects they would have on the county’s private sector constituency.

The supervisors concurred with the letter, despite the fact that the deadline for such comments was August 31st.

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