Supervisors Informed About Potential Bonding Options
Mahaska County Board of Supervisors for March 21st, 2016.
The Mahaska County Board of Supervisors met Monday, March 21st, 2016.
The first agenda item, beyond approving the agenda, was a public hearing for a speed ordinance to slow traffic down on the gravel road that runs west from KBOE Radio. No one from the public was on hand to speak.
The motion was passed to adopt the ordinance and another reading is planned for the next meeting.
Dave Sedevic, with Mahaska County Conservation, spoke about a potential land acquisition and an upcoming public hearing where new park policy will be discussed. Park policies haven’t been updated in nearly two decades, and the conservation board hope to update those at its upcoming meeting.
Northland Securities was on hand to discuss potential bonding the county may undertake if a LOST measure is passed in May. The bonds would be paid by the sales tax revenue, but the difference in general obligation bonds and revenue bonds was explained to the board.
A service that helps to provide a credit rating for the county was recommended. The fee for the rating could cost approximately $15,000, but could ultimately help provide a savings, well beyond that amount in interest paid on the debt.
No decision was taken, but the discussion was used to determine what bonding options and capacity are available.
Depending on the option, 4.9 million, based upon the 40 percent pledge by the county, could be borrowed for the county portion of a proposed new early childhood development and recreation project.
A community group from Fremont approached the supervisors about helping to fund playground equipment for both city parks, with bulk of the updates taking place at the northern playground.
The project cost would be $75,000, and the City of Fremont has agreed to provide $20,000 of the needed funds. Members of the group asked for the supervisors to partner with the committee, and based their request upon a recent project approved by the board for the swimming pool in New Sharon.
The Supervisors said the request would be better served if presented at budget time.
