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August 28, 2008, 3:25 pm
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County looks at bonding to pay for road work
June 13, 2008 - 3:16pm — Kristin Holtz
While the controversial gas tax increase will give Meeker County more funding for highway improvements, it likely won’t be enough to cover the costs of maintenance and repairs. “We expect to be about $1 million short next year,” Highway Engineer Ron Mortensen told the board Tuesday as he assessed future road costs. At their May 5 meeting, county commissioners talked about the possible need to turn to bonding — or borrowing money — for road improvements. On Tuesday, commissioners took an initial step toward issuing bonds. They directed County Administrator Paul Virnig to calculate monthly principal and interest payments on a bond issue of about $4 million, repayable over 15 years. Virnig said he hoped to have the figures ready for commissioners to study at the June 17 meeting.
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