Mathews officials signed the paperwork last week to formalize the $12 million municipal bond issuance that the Mathews County Board of Supervisors approved in March. The purpose of the bond issuance is to fund such capital improvements as major maintenance needs in the schools and county buildings and a new Station 1 for Mathews Volunteer Fire Department. Joe Syslo, chair of the Mathews County Economic Development Authority, said the EDA is the conduit for the funds, providing a legal bridge that allows private businesses, nonprofits and local governments to access the tax-exempt bond market, which typically offers interest rates lower than the commercial bond market and are exempt from federal taxes. The bonds are revenue bonds, backed by revenue from people who invest in the bond markets as well as by pledged assets for collateral, in this case Mathews Memorial Library and the new courthouse at Liberty Square. The bonds do not involve the county’s credit or taxing power, said Syslo, ...