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Carroll County Fiscal Court approved an ordinance to accept North American Stainless’ plan to refinance $36 million in bonds for the plant’s solid waste disposal projects.
Judge-Executive Harold “Shorty” Tomlinson reminded all those present at the Friday, Feb. 8 fiscal court meeting that the county is not liable for the debt that will be incurred by NAS.
According to the ordinance, NAS is refinancing debt from bonds that were issued in 2000 and 2006 with the new 2013 series bonds.
Mary Jean Riley, NAS vice president of finance and administration, said the bond issue will not require any other action from fiscal court and should be complete around the first of March.
Company officials have said the bond issue will lower the company’s interest rate.
At a previous meeting, Riley said instability of the stock market during that time caused constant fluctuation in the interest rate on the bonds. She said Wells Fargo Bank has agreed to take on the bonds for a three-year period, which will benefit NAS by establishing a fixed rate on the bonds.
Budget amendments win court approval
Carroll County Fiscal Court Friday approved two budget amendments totaling more than $146,000 on first reading. The first of the amendments adds $5,406 to the jail fund from the third quarter local corrections fund. The second goes into the general fund totaling $140,870.40 for a Homeland Security grant. Second reading will be held at the fiscal court’s next meeting Tuesday, Feb. 26 at 9 a.m.
Prices to be sought for county pool repairs
Carroll County Fiscal Court will be looking for quotes to make repairs to the pool at the Robert Westrick County Park.
Judge-Executive Harold “Shorty” Tomlinson said they continue to have problems with the big and the small pools. Magistrates agreed that Tomlinson should get prices to make repairs to both.
Tomlinson said he wants to move forward so work can begin “when the weather breaks.”
The county also will look into the cost to make necessary improvements to the ball fields to prepare them for spring and summer sports.