Oneida County panel limits Bug Tussel bond draws until completion assurances

The Oneida County Executive Committee voted March 11 to halt further draws on the Bug Tussel BT1—Series 2023 bond once the remaining fund balance reaches $1,250,000 until the county receives specified assurances that the project is complete.

Finance Director Tina Smigielski told the committee that a pending payment leaves a remaining bond balance of $1,546,000 and that she lacked authority to delay draws without a clear policy. Smigielski recommended that the committee require completion assurances before approving additional disbursements as the project nears its end.

The motion, offered by Supervisor Robb Jensen and seconded by Supervisor Dan Hess, establishes a $1,250,000 threshold: when the bond balance falls to that level, no further draws will be approved until the county has evidence the work meets agreed standards and milestones. Jensen said, “once the Bug Tussel BT1 –Series 2023 Bond funds reaches $1,250,000, no more draws will be approved until certain assurances are provided to the Oneida County Executive Committee.”

Chairman Billy Fried introduced Ken Kortenhof as the county’s new Bug Tussel representative; Hartman noted the issue is being discussed among other partner counties as well. The committee passed the motion unanimously.

The action creates a financial check intended to ensure the county does not exhaust bond proceeds before project obligations are satisfied. The committee did not specify the exact form of completion assurances; staff were directed to return with any recommended language or criteria at a future meeting.

The committee’s next scheduled meetings are March 25 and April 8.