Madison County supervisors approved a resolution Monday to issue $1.635 million worth of general obligation bonds to fund a number of road projects in the county. 

Supervisors unanimously approved a resolution to move forward with the bond sale. 

 



Roads identified in the bond documents are: Caroline Boulevard, McCullough Lane, Cane Creek Road, Livingston Drive, Bidon Drive, Bidon Cove, Old Agency Parkway, Hoy Road and Old Agency Road. 

The short-term borrowing will be paid off by 2021, with principal payments made in the amount of $817,500 in 2020 and 2021. The interest rate is unknown at this point but can not exceed 11 percent per year, according to the resolution.