St. Louis company hired to refinance Trenton construction bonds

Grundy County Law Enforcement Center

Grundy County Commissioners have agreed to use L.J. Hart and Company of St. Louis to refinance bonds used to pay construction costs on the Grundy County Law Enforcement Center.  The estimated savings over the final 14 years of bond payments is more than $818,000, based on current rates.

A credit rating assessment on Grundy County has to be done before the bonds can be refinanced.  Associate Commissioner Joe Brinser said he does not expect any problems being approved.  The anticipated closing date is around June 15th, so the interest rate will not be known until that time.  At the moment, it is 2.16%, with bond rate payments averaging around 4.2%.  Approximately $3,465,000 remains to be paid on the bonds, with 2016 marking the 10th year of payments.

In other news from today’s Grundy County Commissioner’s meeting, the Charlie Dye Bridge replacement project is waiting for a company to arrive to bore holes for pilings.  Commissioners are also considering other bridge projects, in addition to the Charlie Dye replacement.  Commissioners are working with a representative from an engineering and surveying company regarding bridges.  

Commissioners accepted a bid from Landes Oil to provide fuel for the Grundy County Sheriff’s Department, ambulances, and road and bridge trucks and equipment.  There will be a 5 cent per gallon discount on the pump price for diesel and gasoline.  It was lowest among three bids received.  Jamesport-based Landes Oil operates the BP Station in Trenton.

Commissioners approved Owens Trenching of Laredo to provide various sizes of plastic pipe.  The charges varies on the size of pipe.  It was the lowest of three bids received.  Commissioners report the costs are “slightly greater than last year”.  

The only bid received for metal tubing was approved.  The bid came from Metal Culverts of Maryville.  The costs, which varies depending on the size of the tubes, is described as “the same as last year”.  Trenton Mayor Nick McHargue joined the commission in, by proclamation, recognizing the impact of national service in dealing with local problems.  The recognition is a nationwide effort to spotlight the positive impact of national service in counties, to thank those who serve, and to encourage citizens to give back to their communities.  It is called the “Mayor and County Day of Recognition – For National Service”.  It is being sponsored by the Corporation for National and Community Service, the National League of Cities, the National Association of Counties, and Cities of Service.