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Custer County authorizes up to $3.1 million in highway bonds and awards Anselmo road contracts
Summary
The board authorized a not-to-exceed $3.1 million pledge for highway allocation bonds for the Anselmo south project, approved awarding asphalt and gravel contracts, and discussed financing options including a two-year call period and estimated annual payments.
The Custer County Board of Supervisors on April 14 authorized a not-to-exceed $3.1 million pledge of general obligation highway allocation fund bonds to finance the Anselmo south road project and awarded construction contracts for the work.
Northland consultant Austin Partridge presented financing scenarios for the Anselmo south project and outlined options up to $3.1 million. Partridge said five-year highway allocation bond rates were just under 3.9% at the time of the presentation and estimated resulting payments around $690,000 per year depending on the amount issued and final structure; he also noted market volatility tied to international events. The board voted to approve Resolution 15R-2026 authorizing the bond pledge.
County Engineer and Oak Creek Engineering representatives reported competitive bids for the Anselmo south asphalt resurfacing (project C21 (1324)B1). Lance Harder of Oak Creek Engineering said the bids were well below the engineer's estimate and may not be seen again soon. The board awarded the asphalt contract to Werner Construction of Hastings, NE, and separately awarded gravel bids as tabulated by the Highway Superintendent.
During discussion Chairperson Blowers stated there would be no tax increase to bond this road. The board briefly considered a motion to withdraw $1 million from the Inheritance Fund while bonding $2.1 million, but Chairperson Blowers withdrew that motion.
The board also approved a directionally drilled underground powerline application from CPPD to provide electrical service under Road 430.
Next procedural steps recorded in the minutes include contract award and bond authorization; the minutes do not record final bond sale details or a financing schedule beyond the not-to-exceed authorization.
