County officials debate using cash versus bond financing for tower project
Supervisors asked whether to use unassigned fund balance instead of borrowing for the $20M communications tower project; staff warned using cash could weaken the county's bond rating and that invested cash yields versus borrowing costs must be compared net of issuance expenses.
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Supervisors pressed staff on whether St. Croix County should use unassigned cash to reduce the size of planned promissory notes for the communications tower project. One supervisor asked whether the county could "use some of that cash to defer the size of the promissory notes we're anticipating issuing at some point," suggesting reductions of $1 million to $5 million.
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