Supervisors move forward with roof project and talk refinancing

            Andy Yackle, county buildings and grounds supervisor, appeared to review and take action on the roof design for the professional building and prepare to put the project out to bid.  The supervisors decided to pursue the more thorough project with the pitched metal roof, removing the tower and other options like security lights and cameras. Yackle notes that he will likely put it out to bid later this year with the hope of the project starting next spring or summer. The board also discussed the courthouse roof repairs, but since that wasn’t included in the agenda, it will have to be addressed next week.

            Scott Stevenson, the managing director at D.A. Davidson appeared to discuss the refinancing of a 2010 series General Obligation debt. The debt was accrued for a road project using TIF revenues from the wind farm. The county currently has $2,165,000 outstanding on the debt. Stevenson explained that in the current low interest rate environment, it would behoove the county to refinance the debt and noted it would be possible to lower the interest rate by over 1% depending on upcoming interest trends. He said this could save the county over $100,000, or basically a year of payments. The board voted to move forward with the plan and work with D.A. Davidson on it. It will eventually require a public hearing.

 

For the full story, see this week's Monitor. 

Wright County Monitor

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Clarion, IA 50525
Phone: 515-532-2871
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