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Supervisors approve $717,863 reallocation to LAC Authority for legal, engineering and consultant costs
Summary
The Board approved reallocating $717,863.12 of non-bond funds that the LAC Authority received toward project-related legal, engineering and consultant costs; the city must also approve its portion next week.
Woodbury County supervisors unanimously approved a county-side reallocation of $717,863.12 in non-bond funds the LAC Authority received, allowing the authority to apply that money to legal fees, expert/consultant costs, engineering design fees and owner's fees related to the LAC project.
County staff told the board the funds identified for reallocation come from miscellaneous accounts the authority has collected over the life of the project and are not taxable bond proceeds. The staff presentation said an audit of the project accounts shows the money can be used for additional project-related purposes without moving bond funds.
The county's action requires the city to take a parallel vote; staff said the city council would consider its portion the following week and that any unspent amounts would return to the county. Supervisors said the move avoids the need for separate future agreements with the authority and will simplify accounting for ongoing legal and engineering expenses.
The motion passed 4-0. County staff noted that counsel reviewed the reallocation and confirmed permissibility.
