County will bond project over 20 years
BY Sarah smith
BY Sarah smith
Hubbard County’s courthouse renovation, Phase 2, will be bonded over a 20-year period, putting the least amount of stress on taxpayers.
Projections are if a 20-year term is pursued the annual payment would be around $295,000 at an estimated 2.65 percent interest rate.
The bond sale takes place in early May. Commissioners Tuesday considered and rejected bond maturity schedules of 10 and 15 years as too costly.
If all goes as planned, the $4.5 million project will begin this construction season. The board will review the bids May 7 to recommend or reject the low bid.
It entails relocating the courthouse’s main entrance to the south side of the building and completely revamping the interior offices.
Along with that will come new heating, cooling and power systems that will be more environmentally friendly and much less costly.
One of the primary reasons for the construction is enhancing courthouse security and filling in the space left when the Social Services Department moved above the jail in late December. That department occupied much of the top two floors of the county office building.
Only around $3 million will be bonded. The county plans to put $2 million from reserves into the project.
If bids don’t come in at the interest rates the county anticipates, the board can reject all bids.
In other business, the board:
n Voted to spend $181,000 on emergency repairs to Hubbard County Road 6 south of Highway 34. The funds will come from state aid construction monies.
n Announced that spring road restrictions went into effect March 29 throughout Hubbard County.
n Distributed the 2013 Board of Appeal & Equalization schedule, which starts Monday, April 8. The schedule is on the county’s website. The Board of Equalization meets June 17 at 1 p.m. in the county courthouse.
n Went into a closed session with Sheriff Cory Aukes to discuss pending litigation. No additional information was provided.