Crunch coming to the county?
By Kevin Risner, krisner@advertiser-tribune.comThe Seneca County commissioners have been urged by their bond counsel to get in line soon to refinance the county's bonds. The nation's financial crisis may be negatively impacting the bond market.
County Administrator Stacy Wilson told the commissioners during their Thursday session she had spoken with John Larson, the county's bond counsel.
Wilson and Commissioner Dave Sauber said Larson told them other counties are moving forward to refinance bonds about now. At least one other county is having difficulty selling bonds to refinance debt because of the current national financial crisis, Wilson and Sauber said.
Sauber said Seneca County could potentially be affected by 2007 state audit findings related to variances in the main checking account. Sauber said the audit report might negatively impact the county's bond rating.
Larson said earlier this year the county could save hundreds of thousands of dollars in interest by refinancing at lower interest rates.
Wilson said she was not sure whether the commissioners needed to take any new action before the refinancing. The commissioners approved resolutions to proceed in recent weeks. Wilson said the commissioners would be ready to proceed if Larson advised them to take further action as the board of commissioners.
In other business, the commissioners reviewed documents related to the escrow account established by the Seneca County Courthouse Development Group. County Prosecutor Ken Egbert Jr. said the agreement was acceptable to legal form.
The commissioners are expecting to receive a copy of an option to purchase the former Columbian High School property on Jefferson Street. The Seneca Industrial and Economic Develop Corp. and the Tiffin Historic Trust currently hold that option. The option would be transfered to the county if there is need to build a new courthouse on the site.
The commissioners said they would not meet with the Tiffin Architectural Board of Review during October or November as previously planned. The board asked Wilson to write a letter to the review board and send copies of pertinent documents to keep them informed of what has transpired with the development group.
The commissioners said they have no new information to discuss with the board until they review the proposal of the development group and make a decision to accept or reject the proposal. The deadline to make the decision is Dec. 11. The commissioners said they would plan to meet with the review board between Dec. 11 and Dec. 16.
In another matter, Wilson said she spoke with Belinda Miller of the state auditor's office. The state auditor's office is offering minimal guidance to the county about how to resolve some or all of the checking account variance within the county. Miller said the auditor's office still is trying to track down records of checks returned to the county for insufficient funds, then sent to the county sheriff's office for collection as one source of part of the variance.
County Treasurer Marguerite Bernard was not available to meet with the commissioners Thursday because of another commitment.
Sauber reported on a meeting with the County Commissioners Association of Ohio. The county purchases natural gas through the CCAO and has saved more than $100,000 in recent years through the program.
Commissioner Ben Nutter said he expects to meet again with the Bascom Advisory Panel to discuss the sewer project.
SIEDC President Rich Focht asked the board to consider purchasing a new sign for the local industrial park. Focht said the cost would likely be less than $9,000.
Commissioner Mike Bridinger reminded the board of an Oktober Fest event to be held at Garlo Park this weekend.
The commissioners approved resolutions for the following:
* Declaring the intent to apply for restoration establishment of right-of-way for TR 121 in Hopewell Township.
* Accepting TR 1198 and the extension of TR 1195 in Clinton Township and transferring maintenance.
* To enter into a contract for the Seneca County Community Development Block Grant water and sewer program, with Sauber authorized to sign documents.
* A supplemental appropriation of $3,000 to the general fund for contract services.
* Supplemental appropriations totaling $75,000 to the ditch maintenance department.
* A supplemental appropriation of $3,000 to the VOCA grant fun for contract services.
* An appropriation adjustment of $306 within the general fund from contract services to transporting prisoners.
