The Madison County board of supervisors is considering approximately $14 million in both short-term and long-term bonds for various county projects, including several roads.
At the year-end meeting of the Madison County board of supervisors on Monday, the board directed county Administrator Shelton Vance to work with the county’s bond attorney to draft a resolution, which may be presented to the board at the meeting on Monday, October 7.
According to District Two Supervisor Trey Baxter, the $8.4 million in long-term debt was calculated for long-term projects with no commitments made at this time.
The items used in the calculation were Reunion II, $300,000; Reunion III, $1,200,000; Bozeman Road, $3,200,000; King Ranch Road, $185,000; Catlett Road, $500,000; and buildings, $3,000,000.
After issuance costs, the available amount for projects would be approximately $8.3 million.
The county also budgeted $7.7 million for other projects, with $5,000,000 to come from short-term borrowing. The remaining $2.7 million will come from current-year budget sources.
In other action, the board:
- Approved approximately $103,000 in fire service contract payments to fire districts;
- Approved two right-of-way acquisitions totaling $140,739 for Reunion III.