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Daggett County NBA approves $308,000 lease-revenue bonds for Dutch John water improvements
Summary
The Daggett County Municipal Building Authority on March 7 approved two resolutions authorizing up to $308,000 in lease-revenue bonds to fund water improvements in the Dutch John area; commissioners noted the public hearing had authorized up to $400,000 and staff will complete closing with the State Division of Water Infrastructure/CIB.
The Daggett County Municipal Building Authority approved two resolutions on March 7 authorizing up to $308,000 in lease-revenue bonds to finance water-system improvements in the Dutch John area.
Chair read resolution 25-04 MBA and resolution 25-05 MBA, which together authorize an annually renewable lease agreement, related ground-lease and security documents, and the issuance and sale of the $308,000 series 2025 lease-revenue bonds for the water improvements. Commissioners noted that the public hearing had been noticed for an amount not to exceed $400,000, but that the authority was authorizing the lower $308,000 figure for the bonds now with flexibility if additional funding is required.
Trevor raised timing concerns about the notice to proceed for the water-treatment project and asked how quickly the authority could move once the bond closes. Staff reported that ARPA-funded components purchased through the Division of Drinking Water had begun arriving and would be stored on-site pending construction. Staff indicated the county cannot expend CIB bond proceeds until the bond closes, and that staff will coordinate with Eric and CIB staff to expedite closing and reimbursements.
A motion and second were made to approve both resolutions; approval was recorded by voice vote. The resolutions authorize legal documents needed to transfer the property and accept bond proceeds for construction and related matters.
Next steps include final signatures on the resolutions and coordination between county staff and CIB staff to close the bond and begin contractor mobilization. The authority did not record a roll-call vote in the transcript; approvals were entered by voice vote as "Aye."
