Adair County Board approves budget amendment
October 3rd, 2013 by Ric Hanson
A public hearing was held Wednesday morning in Greenfield, with regard to a Fiscal Year 2014 Budget Amendment. Adair County Auditor Mindy Schaefer told KJAN News following discussion, during which the Board of Supervisors heard no comments or objections, the Board voted to approve the amendment, which Schaefer says is strictly for the Secondary Roads Department. It will allow the department to finish using already bonded for Tax Increment Financing (TIF) money, and the spending of the bond proceeds in a timely fashion, as required.
The Board also heard one of three presentations with regard to a possible Geographic Information System (GIS). The system integrates hardware, software, and data for capturing, managing, analyzing, and displaying all forms of geographically referenced information. Schaefer says the board will hear two more presentations during their meeting next week, and on October 16th, they will make a decision on whether or not to pursue GIS and how to pay for it.
And, the Adair County Supervisors heard from Larry Burger, with Speer Financial Services, with regard to General Obligation (G.O.) and TIF Bonds. Schaefer said the Board will move ahead with the process of acquiring a TIF Bond, and hold a public hearing no later than December 1st, so it can be certified as debt. The approximately $5-million TIF Bond will be used for additional road projects in the Urban Renewal Area that was approved earlier this year. Schaefer said the Bond would be paid-off within five-to seven years.