Clark County Board of Supervisors Approves Application to Borrow $750,000
Monday, August 26th, 2013 -- 9:15 AM
-The Clark County Board of Supervisors has approved a $750,000 loan from the Trust Funds of the State of Wisconsin.At their meeting in July, the board heard a proposal from the finance committee suggesting Clark County take on $1 million in debt.
However, due to concerns by many on the board, the committee decided to lower that number to try and ease some of the anxiety. Several reason the finance committee feels having debt is necessary is because the money can be used for the county?s aging infrastructure, rates are at an all-time low and the levy will remain more stable rather than dropping and then spiking later when the county will inevitably require more debt. And that?s to name just a few reasons.
With the $750,000 loan, the estimated debt levy, without library or bridge aid as that wasn?t known when the figures were calculated, would be 13,353,196 with a tax rate of 7.502. For a $100,000 home that would equal a decrease of $2.
The money will still be used for the same projects; the amount for each simply decreases. $18,000 would be used for repeaters on the sheriff?s towers, $42,000 to fund part 1 of 3 for air handlers at the courthouse, $40,000 for roof repairs at the health care center, $50,000 for technology upgrades for the entire courthouse and $600,000 for road improvements.
The only major difference between the projects under the $750,000 loan and the $1 million loan is that the health care center would use the funds for roof repairs rather than a new phone system.
The board did approve to take on the debt with 26 voting yes and two voting no. The finance committee will now send out their application to the appropriate agencies.
Feel free to contact us with questions and/or comments.