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Marshall County Council votes to begin purchase of sewer-district bond anticipation note, approves advertising for ~$3.4M appropriation
Summary
The Marshall County Council voted Nov. 10 to begin buying a bond anticipation note tied to the Marshall County Regional Sewer District and approved advertising an appropriation of roughly $3.4 million from the general fund.
The Marshall County Council voted Nov. 10 to start the process of buying a bond anticipation note connected to the Marshall County Regional Sewer District and later approved advertising an appropriation of about $3.4 million from the general fund to complete the purchase.
County attorney Marcel Levin presented a draft purchase agreement and described prior negotiations with Star Financial Bank, saying the county could end up absorbing a net cost between about $1.3 million and $1.4 million after receiving district assets. Levin told the council that the outstanding balance as of Nov. 13 would be about $3,337,152 and that interest accrues at roughly $492 per day.
Council members debated…
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