Webster County Fiscal Court has agreed to be the conduit for the issuance of $24,980,000 in industrial revenue bonds.
During the court’s Monday, Oct. 11, meeting, Bob Pennington with Morgan Keegan addressed the court concerning the industrial revenue bonds on the behalf of Allied Resources, Inc.
“We are requesting Webster County Fiscal Court serve as the conduit for the issuance of the bonds,” said Pennington. “That’s typically how industrial revenue bonds are issued –– through a county government.
“The size is approximately just under $25 million. It is for the expansion of the facility in the northeastern part of the county operated by Allied.
“The bond issuance is secured by Regents Bank and they issued this by a letter of credit. What this means is if the bonds were ever to go into fault, Regents Bank would step in and pay off the bond-holders. They would workout payment between Regents Bank and Allied Resources.
“After the issuance of the bonds and the meetings that would authorize the issuance, the county has no obligation to pay the bonds off.”
“These people are top of the line,” said Magistrate William Winebarger. “There’s no liability to this county. I think we’d be foolish as we could be not to be for this and I make a motion that we do it.”
Magistrates unanimously agreed to approve a resolution allowing the county to enter into a contract for the inducement of $24,980,000 in industrial revenue bonds for Allied Resources, Inc.
First reading of the resolution will be held during the court’s Monday, Oct. 25, meeting.
Mysteriously disappearing county road signs were again addressed by the court.
“We put them up one day and they are gone the next,” said Judge-Executive Jim Townsend. “Especially over at the Sebree-Slaughters area.”
“It’s not unusual for three or four road signs to turn up missing over a weekend,” said Webster County Road Supervisor Linda Wilson. “I try to order them as soon as the missing signs are reported, but it takes two or three weeks for them to come in. And when we do replace them, there’s no guarantee they’ll stay put.”
“Stealing signs is just money and signs,” said Townsend. “But the bad part is, if we have a 911 call and they get out there and they can’t find the sign for the road, that could be life-threatening.
“I know of one case where we nearly lost the person because the sign had been removed. The emergency people drove right on past the road. We had a fire a while back where the same thing happened.”
“If we can catch one, we can make a good example of them,” said County Attorney Clint Prow. “We can use them as a deterrent to it happening again.”
Prow noted damaging public property is considered criminal mischief which is a misdemeanor.
Also, the county offers a $1,000 reward for the arrest and conviction of anyone charged with road sign destruction or theft.
Magistrate Jerry Brown suggested the county offer a period of amnesty for anyone turning in missing road signs within a stated period of time.
The court unanimously agreed to allow amnesty to anyone turning in county road signs or naming the location of such signs through Oct. 31.
“We won’t prosecute through Oct. 31, but Nov. 1, they better be ready,” Townsend said.
In other business, overcrowding of the county’s jail was re-hashed.
“We’ve looked at the possibility of adding on,” said Townsend. “This meth thing is totally out of control in this county. If we continue to increase like we are, 40 more beds, by 2009, is not going to be nearly enough beds. If we’re going to do this, I’m wondering if we don’t need to go ahead and build a 60 or 80 bed addition.”
Members of the court also discussed the possibility of using leg monitors for specific county prisoners. By using the leg monitors, the county’s cost is considerably reduced.
In fact, according to Townsend, the prisoners paid the daily expense to use the leg monitors as opposed to being jailed.
Prow will check into the possibility of using the leg bands.
The court also:
•agreed to re-negotiate with Capitol Electronics, Inc. concerning emergency siren bids.
Capitol was the lone bidder for four new sirens for the county, encoder, radio receivers to upgrade the old sirens and installation. Total bid was approximately $75,000.
•unanimously approved the first reading of an ordinance requiring loggers to purchase a $25 permit prior to logging in the county with a violation charge of $200 per day.
The ordinance also states loggers will be responsible for repairing any roads damaged during hauling logs across county roads.
Noncompliance by loggers will result in a class A misdemeanor charge and an appearance in court.
•unanimously agreed to proceed with phase II of the Blackford bridge project upon learning the county had received its long-awaited $150,000 grant funds.
Townsend noted Tetra Tech would be contracted to write up specs for the restoration project which would then be bid out.
Magistrate Richard Heady requested clearing work by the county road department begin in the project area.
However, Townsend stated all road department employees are currently being utilized to complete FEMA projects related to 2002 flooding. He noted deadline for the FEMA projects is drawing near.
•approved authorization for Townsend to enter into an agreement with the state to go ahead with road work requested approximately one year ago. Available state funds will be between $125,000 and $150,000.
Roads to be resurfaced include portions of Fish Trap Derby Road, John Roach Road, Old Dixon Slaughters Road and Free Union Tilden Road.
