Committee opts to cut road, bridge borrowing

Trempealeau County’s finance committee tentatively decided to recommend to the full board a borrowing plan that could cut the money the county has recently been spending on roads and bridges.

The possible borrowing plan would, by 2026, still push the tax rate for county debt to $2.02 per $1,000 of assessed value. This compares to this year’s rate of $1.20.

The county’s executive finance committee’s recommendation follows several options presented Monday by the county’s financial advisor. Those alternatives included pay-back periods of between five and seven years, and per-year spending on roads and bridges of $3 million or $5 million. All models included $4.25 million to be borrowed this year for roads, bridges and sheriff’s department vehicles.

The county has borrowed about $5 million a year for work on roads and bridges since 2019.

The framework recommended by the committee anticipates a five-year payment plan and spending $3 million annually on roads and bridges. Brian Reilley of the Ehlers financial advisory firm told the committee that option could still be modified.

The lower amount for roads and bridges “could have a dramatic effect,” said committee member David Orsch. “Are we digging ourselves a hole? Maybe, but how do we finance (a higher road and bridge budget) on top of the new building?” 

Orsch added it would be important to establish borrowing intent early so the highway department could plan appropriately. The borrowing options are expected to be on the county’s board Feb. 20 agenda.

Even with the $43.5 million the county borrowed for the new Justice Center, Reilley said the county has more than half of its legally allowed borrowing limit available.

Committee members also noted that more state and federal money might be available for road and bridge work.

“With the state’s $7.1 billion surplus,” said committee member John Aasen, “The (state department of transportation) thinks we will be getting more money.”