Bond funds to fix roads, roofs; Paving project included in $2.1M bond usage
Published 12:12 am Wednesday, November 12, 2014
NATCHEZ — A portion of the $2.1 million bond the Adams County Board of Supervisors approved to repair the roofs of county-owned buildings will be used to pave roads in the coming year, board President Darryl Grennell said.
The roads that will be paved are included in the county’s four-year road plan, Grennell said, and have been identified as needing repair by the county road manager.
Grennell said he did not know which roads would ultimately be included in the paving project.
The board voted to take out the bond last week in order to make what board members characterized as necessary repairs to the roofs of the county jail and chancery court addition at the county courthouse.
Repairs to the roof of the Department of Human Services building, which are already under way, are also included in the project.
Supervisors Vice President Mike Lazarus said the three roof projects represent approximately $450,000 in county commitments.
Borrowing now to cover the cost of the roofs became necessary because the need is immediate, but the county’s revenues are slow this time of the fiscal year, Lazarus said.
Tax revenues begin to come in significantly in January.
“We were covered (in our overall budget) on money to carry us to the end of the year,” Lazarus said. “But the roofs were something we needed to do, and it is time to get it done.”
The bonds will be structured in a way that will allow them to be paid off immediately instead of having to wait for a maturation period in which they gain interest, Lazarus said.
Grennell said while the county had considered using the balance of the bond to finance temporary payments for the FEMA 361 storm shelter project, it will instead seek a temporary line of credit that can be repaid with federal reimbursements.
The FEMA 361 project is a $3.25 million storm safe room meant to withstand the force of an EF5 tornado.
It is being financed by the Federal Emergency Management Agency, but Adams County has to pay for the project upfront and then get reimbursed for the invoices from the federal agency.
The county has already paid a $290,000 invoice for the project, Lazarus said, and the county has been informed of approximately $1.2 million worth of invoices that will be submitted soon.
“If (the contractor) doesn’t send that invoice until the end of the month, we may be able to wait until January to pay, and we can wait to pay without (financing of any sort),” Lazarus said.