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Front Page » February 27, 2007 » Local News » County to let the bonds for new swimming pool
Published 3,649 days ago

County to let the bonds for new swimming pool

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It may just look like an empty field but it's the future site of the Emery County pool.

Commissioner Drew Sitterud welcomed Alex Buxton to commission meeting on Feb. 20, he is the financial representative who takes care of bonding issues for the county. Buxton said, "Last November in a special election the Emery County voters overwhelmingly approved the swimming pool project. A 0 percent interest $5 million loan was acquired from the Community Impact Board. Commissioner Sitterud is on that board and that amount was substantially larger than any pool project to date.

"There will be a notice of the issuance of bonds in next week's Emery County Progress. The first payment on this loan is due in January of 2009. This 0 percent interest rate will save the taxpayers $2.4 million over the life of the bond," said Buxton.

The bonds will be issued in time to begin the swimming pool project in early May.

The commission also approved the issuance of bonds by the Castle Valley Special Service District for their projects. Darrel Leamaster, director for the CVSSD said the money will be used for streets, curb and gutter and drainage projects; $1.4 million will be used on the street projects and these will be in all communities. The taxpayers approved $12 million in a bond election a few years back and when these bonds are let, then $8.5 million of the $12 million will be used. There will be $3.5 million left. The CVSSD must have authorization from the county commission for the issuance of bonds.

The closing on the loan will be March 28 and is being handled by Chapman and Cutter, bond counsel.

"The construction projects this year will consist of some new street construction and paving the parking strips on streets which have recently received curb and gutter. The road next to the pool will also be done as well as a new road (one block) in Huntington," said Leamaster.

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