Thursday, May 16, 2013
Northampton County Contemplates $21.5 Million Bond
But that's not all. A $9.9 million, 2006 bond issue, will very soon be eligible for refunding at a rate that can save the County $1 million.
Between the refunding and new spending, we're talking about a $21.5 million bond.
What this bind fails to address is a new steamline and parking lot at Gracedale, which would add nearly another $4 million.
That parking lot work could not even begin for a year because of the permit requests involved.
Council member Bob Werner suggested that the County consider a concrete, as opposed to asphalt, parking lot, because it would have a much longer life. Council Prez John Cusick marveled at the estimated cost for a new parking lot. It "seems extraordinary," he said.
Werner reminded everyone that, within the next five years, the County could incur another major cost if it purchases the centralized human services building.