Mower County to sell bonds
Published 9:59 am Wednesday, June 24, 2009
The Mower County Board approved on Tuesday the sale of $16.66 million worth of jail bonds to help pay for the new jail and justice center.
As decided upon at a previous meeting, the bonds will be federal Build America Bonds, which come with federal assistance to lower interest rates. The county selected a 13-year bonding plan over a 20-year plan previously as well.
George Eilertson, senior vice president of advisory group Northland Securities, had recommend those measures as ways to keep the overall debt as low as possible.
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The jail and justice center plan has been controversial to date, with some citizens protesting the need and cost of the project and asking for a referendum item, but Tuesday’s approval was relatively quiet — nobody showed up to voice any public comments or concerns.