The Fremont County Board of Supervisors finalized the landfill bond, agreement and taxing authority for bond note repayment in their April 30 meeting.
As previously approved, $800,000 in general obligation capital loan notes, denoted “Series 2019A”, and dated May 15, 2019, were to be sold. These loan notes will pay the costs of improvements and extensions to the landfill facilities of the Fremont County Sanitary Landfill Commission.
In order to administer these notes, the supervisors passed Resolution No. 2019-31, appointing UMB Bank of Kansas City, Missouri, to serve as Paying Agent, Bond Registrar and Transfer Agent. This resolution also approved the agreement between the county and U.M.B. Bank and authorized execution of that agreement.
The supervisors also passed Resolution No. 2019-32, which approved and authorized the loan agreement allowing issuance of the notes, authorized levying a tax to pay the notes, and approved a tax exemption certificate.
Interest on the notes, designated "General Obligation Capital Loan Note, Series 2019A", would be payable on December 1, 2019, and on the 1st day of June and December every year thereafter until maturity, at the established interest rates.
Term Note #1 will have interest at 2.25 percent, and mature in 2024. Term Note #2 will have interest at 2.45 percent, and mature in 2027. Term Note #3 will have interest at 3 percent, and mature in 2032.
As part of the bond arrangement, a tax will be assessed and collected each year and placed in a Debt Service Fund to be known as the “General Obligation Capital Loan Note Fund No. 1.” This fund will be used only for the payment of the principal and interest on the notes issued for the landfill expansion.
Local resident, Kathy Buttry, spoke with the supervisors regarding the easement used by the county farm tenant to access county farm land with semi trucks and farm equipment. This easement is on the Buttry’s private drive, and Buttry, who runs a daycare business on the property, was concerned for the safety of her own and her daycare children. The supervisors agreed to consult with Fremont County Engineer Dan Davis about possible alternative access sites for the county farm ground.
In other business, the supervisors:
- agreed with Fremont County Emergency Management Director Mike Crecelius that the evacuation order for the area west of Bluff Road should remain in place for now and be re-evaluated each week;
- approved claims for May 3, 2019, and
- approved payment to HGM Associates for work on Project #STP-S-CO36(75)—5E-36.