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Gallatin County approves $19.28 million Spanish Peaks rural improvement district bonds to fund Big Sky fire station
Summary
Gallatin County commissioners adopted a resolution authorizing $19,283,000 in Rural Improvement District (RID) bonds for a new Spanish Peaks–Big Sky fire station. The bonds will be repaid by assessments on properties inside the multicounty RID; county general funds will not back the debt.
Gallatin County commissioners on Tuesday approved a resolution to issue $19,283,000 in bonds for a new fire station serving the Spanish Peaks resort area, financing the project through a multicounty rural improvement district.
The resolution authorizes Gallatin County to act as the bond issuer for the Spanish Peaks Rural Improvement District, which was formed jointly with Madison County. Under the financing plan, assessments levied on properties inside the district will repay the bonds; Gallatin County taxpayers outside the RID will not be responsible for the debt.
The resolution matters because the new station is intended to improve emergency response in a wildland area that participants described as entirely “in the wild lands,” where wildfire risk is high and development has increased. County staff explained the financing structure to the commission,…
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