FINANCIAL_SERVICESAPPROVED

Charlotte County Board of Supervisors Meeting Minutes April 2026

County Approves VRA Courthouse Debt Refinancing

Charlotte CountyVIRGINIA RESOURCES AUTHORITYApril 8, 2026

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Description

Charlotte County approved a refinancing resolution authorizing a new Financing Lease with the Virginia Resources Authority to refinance its 2015 courthouse lease obligations through the VRA spring pooled bond program. The transaction must generate at least 4% net present value savings and $800,000 in gross savings with reduced annual payments and no term extension beyond the existing lease.

Contract Details

Vendor

VIRGINIA RESOURCES AUTHORITY

Agency

Charlotte County, VA

Contract Type

FINANCIAL_SERVICES

Document Date

April 8, 2026

Contract Term

Authorization to refinance 2015 courthouse lease through VRA spring bond pool, authorization valid until June 30, 2027

Renewal Date

2027-06-30

Renewal Info

Refinances and amends the 2015 Local Lease Acquisition Agreement and Financing Lease with VRA; authorization to enter the new Financing Lease expires June 30, 2027. Future refinancings would require new Board action.