The Marion County Board of Commissioners met for their regular meeting on Monday, where they heard from David Arteberry of Stifel, Nicolaus & Co., and Mitch Walter of Gilmore & Bell regarding a charter resolution to authorize the offering for sale of general obligation bonds, since the board finds it necessary to use them to pay the costs of certain road projects in the county.
The projects and cost estimates in discussions were:
•Kanza – US-56 to 180th – $2,200,000
•290th – K-15 to US-56 – $7,250,000
•190th – K-256 to US-56 – $825,000
•Indigo – Harvey County Line – Hillsboro City Limits – $3,105,000
The men explained different options and when the bonds would become due. They said that the bonds could consist of fully registered bonds in the denomination of $5,000 and be dated June 30 and become due in principal installments on September 1 over a set amount of years, depending on what the board decided.
The board discussed it all back and forth for much of the time and did not seem to be able to reach a consensus. Chairman Dave Mueller suggested tabling the discussion and coming back to it in the future.
County Clerk Tina Spencer said, “You had your initial discussion about how you could pay at least the first few payments out of the capital improvement fund and then over time raise the mill levy slightly to cover the difference. I don’t know how far you want to stretch that, as that is where you will also be paying your road projects from.”
Arteberry explained that having a shorter time frame such as nine to 10 years makes a change in interest rate a smaller deal than a 30-year bond issue.
After further conversation, the board decided to approve authorizing the sale of general obligation bonds in the amount of five million dollars for a nine-year schedule. Mueller made the motion, and Commissioner David Crofoot seconded it. It passed 5-0.
In other business, the board:
•heard an update from County Appraiser Nikki Reid.
•heard from Empower House Ministries Executive Director Melissa Landis. Empower House is a recovery home for women recovering from addiction located in Emporia. Landis asked the commissioners for funding since the ministry has served some Marion County residents. No action was taken.
•listened to a department update from County Treasurer Susan Berg. Berg reported that more people have come in and paid their tax debt, but there are still several outstanding.
•heard from State Representative John Barker.
•listened to various road and bridge updates from County Engineer Bryce Goebel.
•met in executive session for personnel matters. No action was taken.
