THE MARTIN COUNTY BOARD TUESDAY APPROVED THE SALE OF $1,875,000 IN GENERAL OBLIGATION COURTHOUSE BONDS. A REOFFERING OF PREMIUM AGAINST THE ORIGINAL PAR AMOUNT OF $1,940,000 DROPPED THAT FIGURE TO THE $1,875,000 AMOUNT. THE ADJUSTED PURCHASE PRICE $1,906,254.01. NET INTEREST COST IS $461,236.66 WITH TRUE INTEREST COST OF 2.19%. ROBERT W. BAIRD AND CO. INC. OF MILWAUKEE WAS THE LOW BIDDER. BILL FAHEY OF NORTH LAND SECURITIES, BOND COUNSEL FOR THE COUNTY, TOLD THE COMMISSIONERS THAT S&P GLOBAL RATINGS ASSIGNED THE COUNTY’S LONG TERM AND UNDERLYING RATING AT AA PRIOR TO THE SALE. PROCEEDS FROM THE BONDS WILL BE USED TO FINANCE THE REPLACEMENT OF THE COPPER DOME AND ROOFING ON THE COURTHOUSE AND TO PAY COSTS ASSOCIATED WITH THE ISSUANCE OF THE BONDS.

THE BOARD ALSO APPROVED A REVISED PROSECUTION CONTRACT BETWEEN THE CITY OF FAIRMONT AND THE MARTIN COUNTY ATTORNEY’S OFFICE AND APPROVED THE AQUATIC INVASIVE SPECIES PREVENTION PLAN AS PRESENTED BY MSWCD OFFICE.

Big Deals