The Moore County Board of Commissioners heard at their Tuesday meeting about a meeting with Moody Investments that resulted in the upgrading of the school bonds to a rating of Aa1.
An Aa1 rating is the second highest rating that Moody offers. It indicates that the bonds are considered high quality and subject to minimal credit risk. This will result in significant savings to the county over the life of the bonds.
Thirty four million dollars’ worth of bonds will be issued March 12 with an anticipated closing date of March 28. These funds are earmarked for the construction of new elementary schools in Aberdeen, Pinehurst, and Southern Pines.
After these bonds are issued, Moore County will have approximately $108.4 million of General Obligation Debt. The rating reflects the county’s sizable, growing tax base and healthy financial position which is characterized by strong operating reserves and available capital reserves.
In other business, the board proclaimed February Children’s Health Dental Month. Tooth decay tops asthma, type 2 diabetes, and obesity as the most prevalent childhood health issues. Poor dental health can lead to children missing school and receiving lower grades than those who do not suffer from dental problems.
Last year the Moore County Health Department screened over 3,000 children for dental issues. This was the result of a partnership between the Moore County Health Department and Moore County Schools.
The board also conducted a public hearing concerning a conditional use permit for a farm equipment repair shop at a West End home on Ellis Lane. Several residents expressed concern about noise pollution, problems with the capture of oils and fluids used in the repair process and the possibility of decreased adjacent property values.
At the conclusion of the hearing, the permit was granted by a vote of 4-1 to with commissioner Louis Gregory opposed. The board did mandate several stipulations including sound baffling and the location of vehicles awaiting repair. The conditional permit is subject to review in two years.
The next regularly scheduled meeting for the board of commissioners is March 5, 2019.
Written by Sandhills Sentinel Government Reporter Chris Prentice.
Photo via Moore County.