Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Finance topic
No spam. Unsubscribe anytime.
Commissioners update public on Smith Elementary bond proceeds and jail project spending
Summary
The chair reported the county sold bonds with an interest rate near 4.4% to fund Smith Elementary reimbursements and said $700,000 had been moved from a $3 million jail note into a budget fund for ongoing jail expenses; commissioners discussed project bidding and timing and asked staff to request core-drill and soil reports from the architect.
The chair said the county sold bonds this week and expects to pre-close on the 31st, then close the sale and open a fund to reimburse Smith Elementary. "We, we sold bonds this week. I believe our interest rate was 4.4% with our interest rate on it," the chair said.
On the jail project, a commissioner reported the trustee's office indicated $700,000 has been moved from the note into the budget to pay continued expenses related to the jail. The chair and commissioners clarified that $3,000,000 had been allocated for the jail, with about $1.8 million spent on property and the balance used for architect fees and startup costs. Commissioners asked staff to request updated core-drilling and soil-sample results and any site-survey updates from the architect before the bid package is issued so they can better estimate a construction start date.
