Clark County Board of Supervisors Approves Borrowing $3 Million for Public Safety Communication Project
Wednesday, December 17th, 2014 -- 12:42 PM
-The Clark County Board of Supervisors approved borrowing $3 million from the Wisconsin Trust Fund to help pay for the county's $4.6 million public safety communication project.Back in July, the county board authorized the finance committee to find a way to pay for the hefty price tag of the project. Many components of Clark County's current system are well over 20-30 years old and are reaching their end of life. Many companies will no longer support much of Clark County's equipment with in the next couple years. There have been issues with communication between the sheriff, fire and EMS due to the aging equipment.
Thankfully, the Clark County Finance Committee found a way to take on the $3 million debt without raising taxes for citizens. For 2015, Clark County will make one final payment of $378,960.30 on their current debt, which would allow them to be debt free. This $3 million loan, however, will replace that debt. Beginning in 2016, it has to be 2016 because the budget for 2015 is complete, the levy can't be raised and tax bills have already been set out, Clark County would begin making a $356,193.22 annual payment on the $3 million. This means that the county is essential replacing the paid off debt in 2015 with the new debt for the communication project.
The estimated levy for the 2016 year with the new communication project debt comes to 14,649,599 which is a 19,728 increase over 2015. To put that into context, the owner of a $100,000 home in the county would see a $.69 increase.
Feel free to contact us with questions and/or comments.