Dare County Sells Bonds to Fund Three Projects – Coastland Times

Finance


Dare County Issues Bonds to Fund Three Projects

Published Thursday, May 11, 2023 at 8:17 AM

Dare County sold limited obligation bonds to build a new medical helicopter hangar and lodgings in Dare County, a new first aid station at Southern Shores, and, as a joint project, a new first aid station and fire station at Kill Devil Hills.

The actual interest cost was 3.446%.

Dare County Treasurer David Clawson said there was demand for the bond, which included “big guys.” Orders totaled $124 million and bonds totaled $38 million. Piper Sandler lowered interest costs and attracted 14 bidders.

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Debt proceeds from Series 2023A Limited Debt Notes totaled $43,336,469.50.

Ultimate annual debt service will average $364,000 less annually than the Equity/Debt Affordable model.

The sale took place on April 20, 2023.

On May 1, the Dare Commissioner adopted amendments to the Capital Projects Ordinance Series 2023A to reflect the final figures from the bond sale and to make modifications to the Dare Medflight and Southern Shores projects.

The commissioners approved the construction of a welding laboratory gas storage building at Albemarle University’s Manteo campus. The project will remove the gas tank from the lab and pipe the gas to the lab from a new building. Quote from Barnhill Contracting totals $380,563. Sufficient funds remain in the project budget to cover costs.

In the Consent Agenda, in addition to approving the minutes and the tax collector’s report, the Commissioner will:

– Approved an agreement with Courthouse Computer Systems, Inc. to provide data conversion, licensing, software support and website maintenance for the Deeds Registry’s computer recording equipment. This includes software modules used for document recording, indexing, searching, image processing, important records management, marriage license application, issuance, and image editing. The contract runs from July 1, 2023 to June 30, 2025 and costs $37,000 annually.

– Approved the Dare County Disaster Debris Management Contract with CTC Disaster Response as the primary contractor and Southern Disaster Recovery as the secondary contractor. Itemized to-do lists have prices.

– Adopted a series of Department of Environment and Quality Shoal Voyage Fund resolutions calling for a 75% share of the 2024 fiscal year for dredging by the Miss Katie in Hatteras Bay, with a Dare share of $250,000 do. The Department of Environmental Quality has requested that the waterway near the Oregon Bay be divided into separate waterways. A total of $9 million was requested from the state, and Dare County earmarked $3 million. $8.5 million to Oregon Inlet, $1.5 million to Walter Slough and The Crack, $1.6 million to Extension 17 to Wanchees and Manteo, and $400,000 to Old Lighthouse Channel 2. distributed to

– Adopted a budget amendment to pay for coastal protection engineering to conduct SAV, shellfish, and cultural resource surveys in the Crack and Walter Bogs, as requested. The investigation will cost $130,000, with 75% coming from the state and $32,500 from Dare County.

Commissioners have appointed to the Council, Commissions and Board as follows:

– Youth Crime Prevention Council: Reappoints Robert Tribbett, Vance Huskett, Gail Hutchison, Amber Yons, Stephanie Webb, Steve House, Sarah Sampson, Sheila Davis, Katherine Irby, Marcus Hester Smith . The council appointed Amber Niveh to replace Michael McGuff, who resigned, and Jennifer Wooten as a member of the public to represent the interests of families with at-risk boys. There are vacancies left.

– Dare County Hydrographic Commission: Reappoints Michael Flynn and Kenneth “KP” Scott III. Kermit W. Skinner’s term also expires in June. His position remains vacant.

– Library Board, Dare: Reappoint Irvin Bateman and Janice Willis.

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