Supervisors take last step for borrowing

Trempealeau County supervisors accepted a 2.9 percent interest rate bid on money the county intends to spend on roads, bridges and sheriff’s department vehicles.

The county board last Tuesday approved the bid of TD Securities of New York, New York to borrow $4.265 million over five years. TD Securities’ bid was the lowest of four with the highest interest rate from a Minneapolis firm for 3.5 percent. The action was the final step in the borrowing process.

The latest borrowing, which comes on top of bonds issued for the new justice center and $5 million in annual road work since 2019, is expected to raise county property taxes in later years.

“We got good value from these bids,” Brian Reilly of the county’s financial advisory firm Ehlers said of the rate. Preliminary estimates had the interest rate as high as 4.265 percent. Reilly told the board the county’s bond rating remains unchanged at AA-.

Several employees of the county’s human services department summarized for supervisors their work for 2022. A copy of the annual report is available on the county’s website at co.trempealeau.wi.us.

The department’s new assistant director, Jay Hein, told supervisors the department $8.013 million budget is financed by $8.34 million revenues and grants. The department covers programs for economic and healthcare coverage for individuals, protection services for children and the elderly and behavioral health and addiction resources.

Kurt Berner of the county’s construction advisory firm, Samuels Group, told the board the justice center construction project remains on pace to be completed by the end of October though occupancy, especially in the new jail, will require additional work.

He predicted the design phase for $3 million in renovations to the courthouse will be ready for bids by the fall.

By a 10-to-six vote, the board re-elected Dick Miller to the Trempealeau County Healthcare Center Board over supervisor Dawn Waldera.