Supervisors approve $4.7 million bonds for radio system By John Speer CIP email@example.com
In the first of a two-part general obligation bond procedure, Tama County Supervisors voted 3-0 approving a $4,655,00 bond issue purchase agreement. The vote came during a special meeting on Thursday, April 2, conducted by internet Zoom conferencing. Supervisors Larry Vest, Kendall Jordan and Dan Anderson voted to approve the resolution. The bonds will be used in conjunction with a second bond deal in which road improvement bonds issued in 2013 will be merged with the new bonds which is called in part a bond refunding agreement. “Interest rates are falling significantly from a week ago (making it) a good time to get into the market,” Heidi Kuhl, a representative of Nprthland Securities told supervisors. The net result is a15-year interest rate on the bonds at 2.23%. The overall cost for the new radio equipment, towers and installation is set at $6.7 million. It will replace the 911 emergence and law enforcement radio system which is “failing at an alarming rate” according to Tama County Emergency Management and E911 Director Mindy Benson.