Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Water Infrastructure topic
No spam. Unsubscribe anytime.
Murray County adopts resolution enabling $8.07 million bond issuance for Red Rock Rural Water project
Summary
The Murray County Board of Commissioners unanimously adopted a resolution authorizing participation in a joint powers authority and an advance agreement to allow issuance of roughly $8,071,000 in bonds for a Red Rock Rural Water System project near Lake Shetek and Lake Sarah; execution documents will be presented later.
The Murray County Board of Commissioners on Aug. 26 adopted a resolution authorizing an advance agreement with the Minnesota Rural Water Finance Authority and participation in a joint powers authority to permit issuance of about $8,071,000 in bonds for a Red Rock Rural Water System (RRRW) project near Lake Shetek and Lake Sarah. Ron Schramel, attorney for RRRW, asked the board to adopt the resolution.
The board voted to adopt the resolution on a motion by Commissioner Roger Zins, seconded by Commissioner Mark Carlson. The packet notes that bond issuance for the project was previously the subject of a court hearing and that RRRW will make the bond payments directly. County staff said the execution documents for the advance agreement will be presented to the county at a future date for signature.
Why it matters: the resolution clears a local procedural step so the rural water system can finance infrastructure work serving areas near Lake Shetek and Lake Sarah. The bond issuance and the county’s joint-powers participation do not transfer bond payments to the county; according to the materials presented, RRRW is responsible for paying the bonds.
What happened next: the board adopted the resolution and no additional action was taken at the meeting; staff will return with the execution documents. No vote tally beyond the recorded motion was provided in the transcript.
