Judge outlines FEMA bridge replacement plan and interim financing needs

The county judge briefed Spencer County Fiscal Court on a FEMA-funded washover bridge replacement project and financing mechanics the county will face once construction begins.

The judge said the county will be required to front construction costs and then seek FEMA reimbursement, and that the expected federal reimbursement rate leaves a local share to cover ("we got to front the money and then FEMA will pay us back," the judge said). The judge estimated a local share near 13% of the project depending on final costs and estimated a potential local obligation in the low hundreds of thousands (the judge used $260,000 as an example depending on final project size). The court discussed options including short-term county borrowing or trust/bond mechanisms, the need for a funding-capacity hearing for larger borrowings and the relative benefits of using a state trust program versus bank loans.

Members did not take final action on financing that night but agreed to continue reviewing documents, and the judge offered to invite finance advisor Lonnie Campbell (Koole) to a future meeting to explain options and interest-rate expectations.