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LCCCA Bond Issuance Team Presented at Lancaster County Commissioners Workshop

September 22, 2022 by
Left to Right: LCCCA Financial Advisor Michael Vind, LCCCA Bond Counsel Peter Edelman, LCCCA Executive Director Kevin Molloy, Discover Lancaster President Edward Harris, Lancaster County Bond Attorney Tim Horstman, and LCCCA Underwriter Lou Verdelli

On September 13, 2022, the LCCCA’s Bond Issuance Team attended the County Commissioners Workshop regarding the LCCCA’s proposed 35-Year Fixed Rate Bond Financing. The Lancaster County Commissioners approved this proposal at the Workshop, and the Board of Commissioners Meeting (also held on September 13, 2022).

Benefits of proposed Bond Funding:

  1. Reduce risk to County Guarantee to be called upon.
    • Eliminate variable rate bonds
    • Eliminate renewable bond terms
    • Eliminate spikes in principle schedule
  1. Provide financial stability to the Lancaster County Convention Center Authority.
  1. Reduce Risk to Discover Lancaster’s distribution of Hotel Room Rental Tax
  1. Improve funding of Capital Project in future years to assure the appearance of the LCCC is fresh.

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