Carbon seeks $12M for projects
Carbon County officials adopted an ordinance to begin the process of obtaining a $12 million bond for various county projects.
On Thursday, the commissioners approved the action regarding the issuance of one or more series of general obligation bonds not to exceed $12 million. A public notice outlining the ordinance was published in the Times News on March 2.
The bonds would provide funds for the Susquehanna Street building project and the multiuse fire training facility project, as well as other improvement projects at existing buildings.
Commissioners’ Chairman Wayne Nothstein said that approximately $2 million of that bond is earmarked for the fire training facility, but did not have an exact figure on what would be used for the Susquehanna Street project.
The fire training facility project will be located next to the Emergency Management Agency on the Broad Mountain in Nesquehoning and will include live fire training sites, a drill tower and other training necessities for firefighters, police, county departments and EMS, while the Susquehanna Street building project will include a two-level, 110-space secured parking garage and 25,000 square feet of office space situated in the current parking lot of the 76 Susquehanna offices.
Nothstein added that some unexpected projects, like the water emergency that just occurred at the jail, could shift some of the money around in the bond.
The commissioners hired RBC Capital Markets LLC on Feb. 14 to serve as the sole underwriter for the 30-year bond.
Carbon County refinanced part of another bond $14 million series of 2011 bonds in the amount of $4.2 million in 2017 and has also used part of that bond for additional capital projects in the county.
In a related matter, the commissioners approved two actions regarding the Susquehanna Street building project.
The board hired McNees, Wallace and Nurick LC of Harrisburg to represent the county in any matter regarding the project. The rates will be between $215-$350 an hour depending on which person from the law firm provides the service, plus expenses.
The commissioners also approved an agreement for conditional approval with the Borough of Jim Thorpe for the Susquehanna Street project final land development plan.
Comments
"The people represented by this government will benefit from the character building opportunity to pay for the great vision of our elected leaders as they magically turn tax dollars into interest payments." Hear, hear.
Can someone send me cost benefit analysis or return on taxpayer investment proposal, or referendum where those paying for this voted hear, hear?
Did 'we the people' get the option to give or 'invest' our money up front? Credit the interest and profits from our investment off from our taxes. After all, who foots the bill in the end?
Only the government we voted for can spend money they didn't take yet, to develop property they already took, including the interest, for a plan that saves money, but costs a fortune. How many more projects does the county have to invest in before they start paying us like shareholders?
The most crutial question will be
"Who is picking the drapes?"
Please let it be Tom and not Wayne, Bill could probably do it, but Tom has a good eye for colors. Maybe they should go bipartisan and Tom picks the color, Bill picks the fabric. Bipartisan cooperation at the county level, nice. God Bless America! Where government debt fixes almost everything.
Watch
Corruption is legal in America
Sincerely,
Citizen David F. Bradley Sr.