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Beltrami County signals support to pursue $36 million second bond and shorter term for jail project
Summary
Following a presentation by county staff and financial advisors, the Beltrami County Board gave consensus to pursue a second bond issuance reduced to $36 million with a 20-year term for the jail construction financing; staff will prepare resolutions for formal consideration at the next meeting.
Beltrami County commissioners on the evening’s agenda directed staff to prepare documents for a second bond issuance to fund the remaining construction of the county jail, following a detailed presentation on project costs and financing options.
Administrator Barry told the board the project has a guaranteed maximum construction price of about $62,500,000, owner items budgeted at roughly $8,600,000 and an existing-jail facility estimate near $6,000,000, producing an overall not-to-exceed project budget near $80,000,000. He said the county previously issued a $40 million bond in 2024 and has been operating on that issuance while monitoring spend rates and construction schedules.
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