The Woodward News

Local News

March 5, 2013

County discusses financing issues

Chris Cooper Woodward News

Woodward, Okla. — A discussion was held during the Commissioners meeting on Monday regarding the financing of the upcoming Woodward County Fairgrounds Improvement Project.

Representatives from the county's financial advisor, underwriter, and bond counsel were present to discuss financing and answer any questions attendees might have.

One of the main concerns raised by District 1 Commissioner Tommy Roedell was the assignment of the trustees for the project's bond. Roedell was concerned that making the commissioners trustees would inhibit their ability to discuss it, since if 2 of the commissioners did so, it would technically qualify as a meeting.

Roedell suggested that instead of making commissioners the trustees, the Woodward County Public Facility Trust Authority be made the trustees, as the authority had been during the construction of the new county jail. No action was taken however, as the project financing item was only intended for discussion.

Another question, concerning early payment on the bond, was broached by County Clerk Charolett Waggoner. Jeff Raley with Floyd Law Firm assured commissioners that there would be no pre-payment penalty, and that there were stipulations included providing that any additional funds raised by the sales tax be used to pay off the debt early.

In other monetary matters, the financing documentation from the Stock Exchange Bank for the Woodward County Fire Department for a VT Hackney Rescue truck was tabled as delivery of the truck had been impeded by the recent blizzard.  Commissioners were unsure of when the truck could now be delivered, so the item was tabled until they are notified of the truck's delivery.

Bids for a project overlaying county road NS-203 from EW-51 to EW-48 and from EW-43 to EW-42 were delayed.

District 2 Commissioner Randy Johnson explained, "The bids were submitted as a lump sum and they needed to be broken down to make sure we got the best deal."

The project would cover the first mile of 8th Street south of Hanks Trail, then 3 miles north from the Sharon-Shattuck road. The opening of new bids has been scheduled for the county board meeting on March 25.

The county commissioners did take action on one item Monday as they approved an Oklahoma Office of Homeland Security Grant for Medical Reserve Corps equipment for the county health department.

Waggoner said that the grant money will go toward purchasing such equipment as radios, go-bag emergency backpacks, as well as tables and folding chairs among other things.

Before Monday's meeting ended, county commissioners took a moment to issue a thank you to everyone involved in the efforts to clear county roads last week following the Feb. 25 blizzard. The commissioners said they were very grateful for everyone who got out and helped to make the roads passable.

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