Saving you about $158,000 in interest expenses and potentially giving the county more space to borrow for a new jail is the goal of a resolution being discussed by the Kewaunee County Finance Committee on Thursday.
The resolution calls for paying off the $620,000 in general obligation refunding bonds from December 20th, 2012. The bonds’ maturity date is May 1st, 2032, paying them off sooner would save the county $158,000 in interest expenses over the course of an eight-to-nine-year period. Kewaunee County Finance Director Paul Kunesh said in his memo to interim County Administrator Ed Dorner and the finance committee that in addition to reducing interest expenses it would make room for a new bond issue if a new jail is eventually built. After project bidders came in nearly $8 million over budget on plans to replace the current jail, the Kewaunee County Board of Supervisors failed to get a two-thirds majority to approve funding plans to bridge the gap.
The committee will also consider a facilities request from the Kewaunee County Historical Society when the body meets on Thursday at 8 a.m. at the Kewaunee County Administration Center.