Crawford County will receive about $20.4 million in September to pay for construction of a new 270-bed detention center.
During the Crawford County Quorum Court meeting Monday night, Justices of the Peace approved the sale of bonds at a 2.23 interest rate to pay for construction of the new jail.
JPs approved an ordinance that authorized the issuance of tax bonds and pledged the two sales taxes totaling a three-quarter percent, which were approved by voters May 20, to pay the debt service and maintenance of the jail.
According to the ordinance, bonds were issued at a principal amount of $21.91 million and sold to Stephens Inc. at a price of about $22.76 million.
Kevin Faught, a public finance banker with Stephens Inc., and attorney Ryan Bowman with Friday, Eldredge and Clark presented the ordinance to the quorum court.
Crawford County Judge John Hall signed the ordinance during a recess Monday night, locking in the low interest rate. The money will be made available Sept. 24 when the bond sale is closed, Faught said.
Faught said he expects Crawford County will pay off the bond debt in eight years.
Also Monday, JPs debated over several budget items during the budget committee meeting and quorum court.
A request from the Crawford County Election Commission for an additional $60,000 to pay for this year’s elections was tabled for the second time after JPs seemed confused about why the money was needed and where it would come from.
During the county’s budgeting session for 2014, in an effort to cut costs and divert more money into the general fund, the commission’s budget was cut and the money was categorized as anticipated revenue and appropriated for use.
Bill Taylor, a member of the commission, told JPs that there was not enough money in the election fund to pay for the upcoming school board election, the November general election and a likely runoff election.
While the commission will be reimbursed for a portion of that money, they are not sure when it will arrive, Taylor said.
JPs held off on making a decision until the commission provides more information about exactly how much money is needed.
JPs approved a request by Crawford County Judge John Hall to increase the pay for IT technician Laura Hall, who has taken on computer maintenance for additional county offices.
Two other requests by Hall both failed by votes of 4-7. The requests were for a $876.42 yearly salary increase for Chris Keith, Crawford County road superintendent, and to create a new position as Crawford County deputy administrator for Dennis Gilstrap, currently director for Crawford County Emergency Management.