This is a brief summary of the major steps in making the decision on financing a project:

Step 1 – County determines its needs and potential costs.

Step 2 – County determines if funds are currently available. If not, step three.

Step 3 – County determines if capital outlay notes are a viable option.

• If yes, then the county determines if sufficient funds can be borrowed internally.
• If so, should the county borrow internally?
• If no internal borrowing, then can funds be borrowed at local financial institutions?
• If not, then consider loan pools as an option for capital outlay notes.
• If capital outlay notes are not an option, proceed to step four.

Step 4 – Should the county borrow from a loan pool or issue bonds?

• If loan pool, then contact loan pool representatives for quotes.
• If bonds, then solicit financial advisor to assist in bond sale.