Cass Supervisors approve early payment on NW Water/Sewer project
February 15th, 2012 by Ric Hanson
The Cass County Board of Supervisors today (Wednesday) approved the transfer $191, 000 from the Local Option Sales Tax (LOST) fund to the Debt Service Fund, in order to pay down a $520,000 loan for the Northwest Water/Sewer Extension Project. The loan was originally set-up to be paid in 20 annual installments of $26,000 each, but the agreement also provided an option for the County to prepay the bond principle in all or in-part, prior to its maturity.
The project was approved by the Board in May, 2011. It involved the laying of 3,200 feet of water main and sanitary sewer from Highway 83 to the Amaizing Energy Industrial area and along Glacier Road and underneath the railroad spur line. The utilities were created in that area in hopes of fostering economic development. The County is paying for the project, with Atlantic Municipal Utilities acting as the flow-through agency for the funds.
In other business, the Board set March 14th, 9:05-a.m., as the date and time for a public hearing on the proposed Fiscal Year 2013 County budget.