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Board hears Anselmo south bond plan: $1M inheritance funds plus $2.1M bond, closing targeted May 21
Summary
Northland Securities told the Custer County Board the Anselmo south project financing will use $1 million from the Inheritance Fund and a $2.1 million bond; annual payments were estimated not to exceed $475,000 and a bond closing date was targeted for May 21, 2026.
Austin Partridge of Northland Securities updated the board on financing plans for the Anselmo south project at the April 28 meeting.
Partridge reported no major changes in the bond market and described a proposed structure that uses $1 million from the county’s Inheritance Fund plus a $2.1 million bond. He said annual payments would be a maximum of $475,000 and that the bond sale is being scheduled with a target closing date of May 21, 2026. The board was told a new fund will be created to handle the project receipts and payments.
The board did not take final action on the bond during the meeting; the discussion established the planned financing approach and timeline and left final sale scheduling and administrative steps to staff and advisors.
