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County Board approves $10 million in bonding

Submitted by admin on Wed, 09/17/2014 - 8:03am
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McLeod County will go ahead with issuing $10 million in bonds to assist with capital improvement projects.
The County Board approved three separate areas of bonding at its Tuesday morning meeting — $3.7 million for its newly adopted capital improvement plan (CIP), $1.3 million in capital equipment notes, and $5 million solid waste bonds.
County Board members stressed that payment for the bonds can be absorbed into the current levy amount.
But that does not mean, Commissioner Sheldon Nies said, that the county will not increase its levy for other reasons.
For example, Nies pointed out that the County Board on Tuesday also approved a new compensation and classification study, which can well result in higher salaries.
The cost of the study also is included in the current levy, but its impact is not, said Nies. Those implications may be felt in the future.
“What we’re doing today will not affect the levy, but what we do tomorrow may well affect the levy,” Nies said.

For more, see the Sept. 17 print edition of The Chronicle.