Cass County Board approves issuance of bonds for project
August 17th, 2011 by Ric Hanson
The Cass County Board of Supervisors, Wednesday (today), approved a Resolution calling for the issuance of $520,000 in bonds, to pay for the northwest water & sewer extension project. The project, in the Amaizing Energy Urban Renewal Area, is nearly finished, with the exception of final inspections and seeding of the grassy areas.
Funds for the bonds will come from the 1st Whitney Bank and Trust in Atlantic, at an interest rate of 3.35%. The County will pay the principal on the bonds in 20 annual installments of $26,000 each, but they have the option to pay the total amount off without penalty. There is also an option to refinance the bonds after 10-years, if necessary.
Cass-Atlantic Development Corporation Executive Director Russell Joyce commended the Board for approving the bond issuance, because of the economic development opportunities the project could spur in the area, in terms of industry.
In other business, the Supervisors approved a bid from Vogel Traffic Services, for conducting pavement markings countywide. Vogel, who performed the same task last year, bid $24, 336 for the project. Rich Hansen, Assistant to County Engineer Charles Marker, said the company will repaint the yellow and white lines on about one-half of the county’s roads. The County alternates painting approximately one-half of its roads every year, because the markings are usually good for nearly two-years. County crews will handle some of the other, necessary pavement markings.