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Sawyer County approves $2.825 million bond sale to upgrade emergency communications
Summary
County board accepted bid results and authorized sale of $2.825 million in general‑obligation promissory notes to fund a public safety communications upgrade, with projected minimal tax impact.
The Sawyer County Board approved the sale of general‑obligation promissory notes totaling $2,825,000 to fund an upgrade of the county’s emergency communications system.
Finance staff and the county’s financial advisor reported competitive bids and a favorable interest outcome. The county offered the issue as a non‑rated tax‑exempt note, which staff said saved issuance costs. The true interest cost calculated after receipts and premiums was presented as 3.813% with a blended coupon around 4.25% and an underwriter premium of about $200,000. The premium reduces the effective levy needed for the first payment.
County staff said the project scope includes towers and equipment necessary to improve radio coverage for sheriff’s, EMS and fire responders. One tower site requires county‑forest review (Draper); another proposed site on tribal land (LCO) had not been confirmed at the time of the presentation. Staff said contingency in the financing should cover the expected construction costs and closing expenses.
The board approved the resolution awarding the sale after staff described the bid results and repayment schedule. The motion to approve the resolution was moved by Supervisor Reyes and seconded; a roll‑call vote was taken and recorded as unanimous.
Finance staff estimated the levy impact at approximately $0.05 per $1,000 of assessed value (about $15 annually on a $300,000 home), and noted the debt service levy effect would decline over time. Staff said the project bid came in at roughly $2,642,000 with contingencies and closing costs making up the remainder of the par amount.
Board members asked whether the county had secured all tower sites; staff said one Draper tower required county‑forest land action on the zoning agenda and the LCO site remained unconfirmed. Staff said they would identify alternate sites if necessary.
The resolution passed by roll call; all supervisors voted in favor.
