Supervisors meet in special session
Resolutions adopted for urban renewal capital loan notes
At a special meeting of the Webster County Board of Supervisors Tuesday, a concrete quote to repair the sallyport at the Law Enforcement Center was discussed and approved.
The quote of $5,950 from MC Concrete LLC, of Fort Dodge, was approved and includes pumping out the pit in the sallyport as well as grinding out cracks and adding shotcrete. According to Doug Vinson with Johnson Controls, the company that maintains county buildings, multiple requests for bids were sent out and MC Concrete was the only one to respond due to a need for specialized equipment for the job.
The board also adopted resolutions for the $7 million taxable urban renewal tax increment revenue capital loan notes. The loan notes will be used for projects with Nestle Purina PetCare and concrete pours at Corridor Plaza.
According to Michael Larson, president of First Interstate Bank in Fort Dodge, the notes have a 12-year amortization, are interest-only payments due semi-annually, and principal payments due annually.