County plans to borrow $1.25 million
The Marshall County Board of Supervisors is planning to borrow as much as $1.25 million this year to pay for facility projects and equipment.
The issue was discussed during its Tuesday and the supervisors set a public hearing on the loan proposal for 9 a.m. Feb 25.
The breakdown of the money includes $500,000 for HVAC and tuckpointing work at the courthouse, $350,000 for control panel and tuckpointing at the county jail, $200,000 for four patrol cars and one transport vehicle for the sheriff’s office and one pickup for the conservation office and $200,000 for two dump trucks and other equipment for the secondary roads department.
Supervisors Chair Dave Thompson said they are not sure whether they will go with bonds or use local banks for the loan. He said lower valuations in the county and the property tax reform measure has led to lower revenues for the county and led them to considering borrowing money.
“We’ve gone three years without borrowing, but this year we just have to do this,” Thompson said.
Thompson said it’s a prudent financial decision to spread out the cost by borrowing, rather than paying all up front – especially since there is currently a climate of lower interest rates.
The $1.25 million is the most they will borrow for these projects and it should be a little less than that number, said County Auditor Dawn Williams.
In other action, the board approved two right of way contracts for small land parcel purchases in the vicinity of the new bridge to be constructed on Parker Avenue between Haverhill and Marshalltown. The county will pay Douglas and Christopher Hammond $908.20 and Ronald and Renee Myers $1,062 for the land.
“The footprint of the (new) bridge is a little bit larger than what the existing structure is,” said County Engineer Paul Geilenfeldt.