The Jasper County Board of Supervisors Tuesday passed resolutions related to borrowing $5.1 million through the issuance of General Obligation Capital Loan Notes. The resolutions approved agreements with the Paying Agent and Transfer Agent, and authorized execution of the borrowing. $4.3 million will go to land acquisition and development of the Jasper Rail Park Urban Renewal Area. The 481 acre industrial park just northeast of Newton is being developed to attract businesses needing rail access or with high energy requirements.
Board of Supervisors Chairman Brandon Talsma says the county is saving some money by simultaneously issuing another $800,000 in General Obligation Capital Loan Notes for some other projects.
“Since we are doing one, it is easier and saves some costs doing it all at one time. This would be the proceeds going to build the shop at Mariposa County Park, a shed at the Jacob Krumm Nature Preserve, and complete the Jasper County Sheriff Department’s Training Facility.”
J
on Burmeister, owner and Managing Director of Public Financial Management, led the County Supervisors through the sale of the ten year General Obligation Capital Loan Notes. Robert W. Baird & Consortium Incorporated out of Milwaukee, Wisconsin submitted the lowest interest rates on both Capital Loan Notes, with a 4.86% interest rate on the $4.3 million in borrowing and a 3.91% interest rate on the $800,000 of General Obligation Capital Loan notes.
