Forsyth County, N.C., recently sold competitively the last of a series of bonds to finance a detention center and a new headquarters for the sheriff's department.
The $8 million of law enforcement facilities bonds, the fourth and last issue of a $48 million voter-approved bonding program, was won by First Union Securities Inc. two weeks ago at a net interest cost to the county of 4.83%.
Proceeds from the general obligation county issue will be used to finance the construction of a 300,000-square-foot, 485-bed detention center and a new 40,000-square-foot headquarters for the county sheriff's department.
Moody's Investors Service rates the issue Aa1, Standard & Poor's Corp. rates it AA-plus, and Fitch Investors' Service Inc. AA-plus.
