Board likely to move forward on bond savings
Published 9:01 am Wednesday, March 21, 2012
The county board received an approval of silence Tuesday.
No one showed up for an 11 a.m. public hearing during the county board meeting to discuss a bond change that could save the county up to $75,000 a year on the roughly $9.4 million owed on a bond for the Mower County Jail and Justice Center.
Officials never expected the change to cause much of a stir, largely because it would save the taxpayers money on existing bonds that already must be paid.
After a 30 day window to receive petitions, the board could move ahead on restructuring the bonds to save money.
And it can’t happen soon enough for Finance Director Donna Welsh.
Interest rates have dropped since the project started. They’re currently favorable at around 2 percent, but Welsh noted the board must move fast because the rates are projected to climb by the end of the year.
Those rates have already started to climb some, Welsh said Tuesday.
“Timing is going to be everything,” she said.
The board will move quickly to enact the savings, but if they rates increase too much, the board simply will keep the current bonds.
Siebel Center may extend its reach
The Siebel Center is looking for grant dollars to extend its reach outside of the Mower County.
The county board agreed to remain the fiscal agent for the center during its regular board meeting.
While the county won’t be required to pay any additional funding, the move will allow the Siebel Center to seek grant dollars that County Attorney Kristen Nelsen said could go for transportation to allow neighboring counties to use the center’s services.
Nelsen described the center and the dollars as a small step at curbing abuse and violence.
“It’s a drop in the bucket, but we need every drop in the bucket we can get,” Nelsen said.
The board also expressed approval for what the center has accomplished.
“It’s a really good program,” Commissioner Tim Gabrielson said.
CRWD looking ahead to new projects
With the rules in their rearview mirror, the Cedar River Watershed District has set its sights on securing additional grant dollars.
The CRWD’s Justin Hanson and the Soil and Water Conservation District’s Jim Gebhardt updated the board on recent conservation projects during Tuesday’s regular board meeting.
In 2011, the SWCD secured and spent about $1.5 million of state and federal funds on local projects.
For the CRWD, Hanson said they’re focus is on securing clean water grants.
“Now that the rules are done we can get focused on the next big step,” Hanson said.