THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Wednesday, July 17, 1996 TAG: 9607170366
SECTION: LOCAL PAGE: B2 EDITION: NORTH CAROLINA
SOURCE: BY ANNE SAITA, STAFF WRITER
DATELINE: CURRITUCK LENGTH: 33 lines
County officers have been given the go-ahead to borrow up to $5.75 million for a new judicial complex for mainland Currituck County.
The county's Board of Commissioners on Monday night unanimously approved a resolution to borrow up to that amount from BB&T Leasing Corp. at an annual interest rate of no more than 4.89 percent.
The loan will be repaid with sales tax proceeds and will not mean a tax increase for county property owners.
The county has accumulated $1.2 million in reserves from the sales tax revenue to get the building started. Annual receipts will be used to repay the loan, said Currituck County Finance Director Dan Scanlon on Tuesday.
The next step, Scanlon said, is to put the project out to bid, which probably will be done in the next couple of weeks.
The building will be almost 40,000 square feet and sit on a 27-acre, county-owned tract behind the Department of Social Services building in Currituck.
It is expected to include two courtrooms and a third multi-purpose room that can be used for magistrate's court and small claims court.
Offices will be occupied by the register of deeds, clerk of court, Tax Department, probation office and State Highway Patrol.
Additional space will be available for other agencies associated with the court system.
Scanlon said construction could begin in September and take between a year and 18 months to complete.
That would put the opening around the fall or winter of 1997. by CNB