The Boone County Board did not pass the enabling legislation for such funds until December 2009. Such funds are available to for private firms and government units. The allocation for Boone County is in the process of being returned to the state.
proposed sale of Build America Bonds for much-needed street improvements.
The city is looking to sell $550,000 of the bonds for roadway improvement
Build America Bond program was implemented under the American Recovery and Reinvestment Act of 2009 to provide funding for state and local government public works projects at lower-than-market-rate borrowing costs. The U.S. Department of the Treasury makes a direct payment to the state or local governmental issuer in an amount equal to 35 percent of the required interest payment on the bond