It didn’t take long to sell-out the bonds for the new County Public Safety facility. Tuesday morning, the County sold $95-million in bonds, in $5,000 increments, in less than 30-minutes. There remains an additional $10-million that was authorized by voters last November. Those bonds are being held-back, until they’re needed.
The ease of the bond sale was aided by the County’s Standard & Poor’s Double-A-plus rating. The bonds sold 3.83%, about a half-percent below what was expected. Because of this, the County will save about $1.1-million over the 20-year term of the bonds. For residents, the levy for the bonds will be approximately $11.13 annually per $100,000-valuation. With the projected population increases in the County, it’s expected that the actual levy rate will decrease in the coming years.
The County Commissioners will formally approve the bond sale at their Tuesday meeting.
The anticipated groundbreaking for the new Flathead County Public Safety Facility, off Hwy 93 South, is this June with a completion slated for 2028.
