Cass Co. BOS passes NW sewer/water extension resolution

News

June 30th, 2011 by Ric Hanson

The Cass County Board of Supervisors have adopted a resolution relating to the financing of proposed water and sewer projects to be undertaken by the County. The action came during their meeting this (Thursday) morning, in Atlantic. Auditor Dale Sunderman said the resolution was drafted and approved by bonding attorney Bob Josten.

He says in order for the county to maintain its tax exempt status and be able to repay some of the upfront financing costs associated with the mobilization of the project before the General Obligation bonds are issued and the cash is in-hand, the Resolution maintains the county can repay the fund monies are borrowed from.

The maximum amount of bonds the county can issue for the water and sewer improvement project northwest of Atlantic is $560,000, but the actual amount has not yet been determined, and may be as much as $30,000 less.

To date, no County funds have been allocated on a long-term basis or otherwise set aside to provide permanent financing for expenditures associated with the project, which would connect the City of Atlantic’s water and sewer system to a 50-acre area owned by CADCO (The Cass-Atlantic Development Corporation), near where the defunct Amaizing Energy ethanol plant was to have been located.

In other business, the Cass County Supervisors voted to re-appoint Terry Rutherford, of Atlantic, to the Cass County Commission of Veterans Affairs for a term of three-years, based on a recommendation by the Commission and the fact Rutherford has served on the Commission for several years.