Get email alerts on the Local Finance topic
No spam. Unsubscribe anytime.
County board authorizes $935,000 in GO temporary notes for local projects
Summary
The commission authorized issuance of general-obligation temporary notes totaling $935,000 to finance Peterson Ranch benefit-district road work and a solid-waste tipping-floor project; staff reported a fiscal impact of about $963,530.49.
The Riley County Commission voted Dec. 4 to authorize general-obligation temporary notes totaling $935,000 to finance two local capital needs: road work in the Peterson Ranch benefit district and a solid-waste tipping-floor project.
Britney Phillips, budget and finance officer, presented the bids returned to the county. Phillips said the original financing request totaled $1,020,000 but the amounts were adjusted after the Peterson Ranch portion came in lower, leaving a $935,000 principal financing need. She provided an estimated fiscal impact of $963,530.49 for debt service and explained staff and bond counsel will work to apportion costs to the special district and to the solid-waste fund accordingly.
Commissioners moved, seconded and approved the resolution authorizing the issuance of the temporary notes by voice vote. Phillips said the county received bids from several banks and that staff will finalize details with bond counsel and the county's financial adviser.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
