For the last several years, the combination of growth in Wright County and solid fiscal management has helped the county improve its bonding rating during tight economic times. It has helped put the county in a position to look at its options when it came to refinancing the outstanding debt on the compost facility bonds. At the Tuesday, May 11, meeting of the Wright County Board, the commissioners opted to stay the course with Springsted Financial Advisors instead of pursuing a different refinancing option. In April, the board heard a presentation from Northland Securities, which promised the county savings by acting as both the financial adviser and bidder on the refinancing of the $8.5 million in remaining compost facility debt. It was felt that Springsted, which had overseen the last five county bond issues, should have a chance to state its case before the county moved on with Northland. As it turned it, the case Springsted made to stay the course was persuasive. Bruce Kimmel of Springsted met with the board at a budget committee of the whole meeting and not only laid out the plan to maximize savings by refinancing, but shot down Northland’s commitment to the county. According to figures presented, Kimmel said the county would save in the neighborhood of $900,000 by doing a bond refinancing. He also pointed out that since 2001, the county has done five bond issues with Springsted, which has produced 22 bids representing 54 underwriters – saving the county thousands of dollars each time through the competitive bid process. It was also noted that, of the five bond issues, Northland’s firm had bid on just one – and didn’t win. That seemed persuasive enough to keep the board with Springsted. While the vote to remain with Springsted ended up being unanimous, the sentiment may not have been the same. “I was impressed with Northland’s presentation,” commissioner Dick Mattson said. “I was leaning toward them. But the consensus was to stay with Springsted, so that’s what we’re going to do.” The bond issue to refinance the compost facility debt is scheduled for next month. In other items on the agenda, the board: – Proclaimed the week of May 16-22 as Transportation Week in Wright County. Highway engineer Wayne Fingalson said transportation week highlights the importance of road issues, adding that each year more than four trillion miles of personal travel takes place and more than $6 trillion worth of freight is shipped along the highway system in the U.S. – By a 4-1 vote, approved setting a letting date for the placement of a traffic signal at the intersection of County State Aid Highway 35 and Bison Boulevard in Buffalo for 9:30 a.m. Tuesday, June 15. Mattson, who has consistently opposed the signal because he prefers a four-way stop sign, again voiced his opposition to the project. – Laid over for a week submittal of a homeland security grant application. The deadline to submit applications was extended to June 1. A civil defense committee meeting was scheduled at 8:30 a.m. prior to the Tuesday, May 18, board meeting. A presentation to the board for that day’s board meeting was added to the May 18 agenda. – Approved the rates for right-of-way acquisition for parcels along the construction route of CSAH 22 between Highway 241 and the south county line in St. Michael. Proposals will be forwarded to landowners in that area. The county’s share of the costs is in excess of $98,000 – considerably more than the $65,000 that was budgeted for the project. – Set a committee of the whole meeting for 10:30 a.m. Tuesday, May 25, to discuss the recommendations that were forwarded from the Wright County Leadership Team retreat in April. – In what may have been a record, approved 15 tax parcel abatements that included properties in the cities of Albertville, Annandale, Buffalo, Howard Lake, Otsego, Rockford, St. Michael and Waverly, as well as Albion, Clearwater, Cokato and Silver Creek townships. – Approved payment of $1,274 to E.M. Branstrom Associates Architects for work completed on the Wright County Heritage Center expansion. – Paid out $9,682 to Frank Madden and Associates – the county’s union negotiating attorneys. The bill is part of the firm’s preparation for potential litigation with one of the employee unions.
