Atchison County closes public hearing and allows chair to sign documents for Benedictine College bond refunding

Atchison County commissioners opened and closed a public hearing at the request of Benedictine College and authorized the chair to sign documents that allow the college to convert previously issued taxable bonds into tax-exempt financing.

County legal staff explained the hearing is required under federal law (Tax Equity and Fiscal Responsibility Act) and that no county funds or pledges are at risk: the county’s role is ministerial, and payment responsibility remains with Benedictine College and private investors. The county’s counsel summarized: "This is a public hearing that's required under federal law under the tax equity and fiscal responsibility act. Benedictine College is planning or requesting to ... do a refinance or what's known as a refunding of some previously issued taxable bonds that were issued in 2022 to make them nontaxable bonds in 2025. ... No county funds are being pledged or are at stake in this. The sole responsibility for payment of the bonds rests upon Benedictine College."

The hearing was opened after notice published in The Globe; no members of the public spoke. The commission then voted to close the public hearing and, by motion, to allow the chair to execute the certificate of approval and the supplemental tax-compliance agreement once county counsel and the college’s documents were finalized. Commissioners voted in favor (recorded in the meeting as unanimous support).

Why it matters: the action is procedural but required by federal tax rules for the college to access tax-exempt financing; the county’s authorization does not impose financial obligations on taxpayers.

Ending: County counsel will finalize the documents with Benedictine College’s representatives and return them for signature by the chair in the first week following the hearing.