Commissioners consolidate bond anticipation notes

The Lorain County Board of Commissioners consolidated five bond anticipation notes for millions of dollars in ongoing or completed infrastructure projects at its meeting April 4.

Doing so saves the county thousands in transaction fees in anticipation of issuing a larger future bond to help pay off public infrastructure projects, county officials said.

A bond anticipation note “is a short-term interestbearing security issued in advance of a larger, future bond issue. Bond anticipation notes are smaller shortterm bonds that are issued by corporations and governments, such as local municipalities, wishing to generate funds for upcoming projects,” trader and investment adviser James Chen said in an article for Investopedia.

Commissioners issued:

● $6,230,000 in bond anticipation notes for the Emerald sewer project in Columbia Township.

● $6,030,000 in bond anticipation notes for the Sandstone Ridge Phase 1 improvements, “including a new county highway, storm sewers, sanitary sewers, waterlines, a new sanitary pumping station, and other related improvements” in the development off state Route 58 near the Ohio Turnpike in Amherst Township.

● $2,950,000 in bond anticipation notes for con-

Fire

FROM A1 a coworker, she said. She said she didn’t smell any natural gas before the explosion, but did afterwards. Her bedroom shared a wall with the unit which caught fire.

“I was trying to figure out what was happening, and then when I saw the smoke start coming into my bedroom I got out of the house,” she said while sitting on the back of a South Lorain County Ambulance watching fire crews douse the remaining hot spots of her home.

The woman who rented the back unit, where the fire started, was not home when crews first responded. A