Another step: Tama County Supervisors approve $4.7 million bonds for new 911 radio system
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. Action on it is slated for early in May.
“Interest rates are falling significantly from a week ago (making it) a good time to get into the market,” Heidi Kuhl, a representative of Northland Securities told supervisors.
The net result is a 15-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 emergency and law enforcement radio system which is “failing at an alarming rate” according to Tama County Emergency Management and E911 Director Mindy Benson.