Dare County Board of Commissioners Agenda Packet 2026-06-09
$56.5 Million Beach Nourishment Bond Issued to Regions Capital
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Description
The Dare County Board of Commissioners approved Regions Capital Advantage, Inc. as lender for $56.5 million in Limited Obligation Bonds to finance beach nourishment projects in Nags Head, Avon, and Buxton. The financing includes two tranches and amends a prior 2021 contract, with closing set for June 15, 2026.
Contract Details
Contract Amount
Not to exceed $56,500,000 (Series 2026A: $13,500,000 @ 3.41%, Series 2026B: $42,000,000 @ 3.62%)
Vendor
REGIONS CAPITAL ADVANTAGE INC
Agency
Dare County, NC
Contract Type
FINANCIAL_SERVICES
Document Date
June 9, 2026
Contract Term
Five years, issue/closing June 15, 2026 (Series 2026B has prepayment option June 15, 2028)
Renewal Date
2031-06-15
Renewal Info
Not specified; Series 2026B includes a prepayment option effective June 15, 2028. This issue amends a prior 2021 contract.
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