Board to review $42M bond sale
By Steve Herring
Published in News on June 18, 2017 8:36 PM
Wayne County commissioners Tuesday will be updated on the sale of $42 million in bonds.
The bulk, $32 million, is for the Maxwell Regional Agricultural and Convention Center ($12,042,604) and for a new Meadow Lane Elementary School and a wing to house Edgewood Community Developmental School ($20 million).
Tuesday's meeting will begin with an 8 a.m. agenda briefing followed by the formal session at 9 a.m., both in the commissioners' meeting room.
No tax increase will be needed to cover the cost of borrowing the money, County Manager George Wood said.
The total interest over the 20-year life of the bonds is estimated at $17 million.
Other projects the bonds will be used for include:
* $2,615,869 for a sewer line between Grantham Middle School and the county landfill at Dudley.
* $3.2 million for a new gym and six classrooms at Southern Wayne High School.
* $400,000 to install HVAC systems in three middle school gyms.
* $610,000 for an information technology project for the public safety offices fiber optic loop and extension to the Maxwell Regional Agricultural and Convention Center.
* $1.3 million for software for the Sheriff's Office, dispatchers, 911, EMS and the jail.
* $2.22 million for the Canterbury Village street repairs. This will be repaid by residents of the subdivision through a special property tax levy.
One item of uncertainty on the agenda is the county's approximately $157 million budget.
Commissioners are waiting to see whether the state budget will be adopted prior to their meeting.
If not, Wood is recommending the board adopt an interim budget that would not include a tax increase.
Commissioners are hopeful the state budget will include $2 million for low-wealth school funding.
Wood last week said he is optimistic the funding will be a part of the budget as well as a provision protecting future funding.
If neither is approved by the state, commissioners are prepared to increase taxes by 2.64 cents to make up the funding.
Also on the agenda are motions to approve:
* A resolution amending the county's personnel policy concerning merit pay increase; qualified standards; drug screening; probationary employment period; and 401(k) contribution.
* The Wayne County Executive Jetport Transportation Improvement project list as recommended by the Wayne County Executive Jetport Advisory committee.
In other business, Wayne County Health Department Director Davin Madden will make a presentation on the county's community health assessment.
Items on the consent agenda include: Applications for Present Use Value, Elderly or Disabled Exclusion and Disabled Veteran Exclusion; budget amendments; motion to approve a adopting the 13th amendment to the county's position classification and pay plan; motion to approve DWI Task Force Resolution lowering the county's contribution.
Public comments will start at 9:05 a.m. Speakers will have four minutes to comment on their topic of choice.