lbradstream@timesrepublican.com
The Marshall County Board of Supervisors on Tuesday discussed which financing security company they would like to work with on the emergency communications system and repairs to county buildings.
Auditor Nan Benson said the discussion was going to involve whether or not they wanted to work with a registered security company or a local bank.
“There are four points difference in market rates,” she said.
Supervisor Steve Salasek said he spoke with Marshall County Treasurer Jarret Heil about it.
Heil said if the county could choose a local bank and draw up the terms. At current rates, it would cost roughly $36,000 to borrow the money, Heil said.
lbradstream@timesrepublican.com
The Marshall county Board of Supervisors decided to use a capital loan from a Marshall County bank to pay for the emergency communication system update.
The decision was made during the regular Tuesday meeting, during a discussion supervisors had on how to finance the $2.6 million project.
Auditor Nan Benson said county employees spoke with attorneys from Ahlers & Cooney, a law firm in Des Moines which is representing Marshall County in the project, and learned the project is considered essential purpose. Thus, it would not have to go to a public vote. As a result, the county can get a loan or a bond, which Benson said is all essential purpose funding.