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County retires justice center bonds

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County retires justice center bonds

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Kingfisher County commissioners voted Monday to retire bonds on the Kingfisher County Criminal Justice Center (county jail and sheriff’s department) early.

Nick Storm, C.P. A. with the firm of Storm and Hauser, presented a report to commissioners detailing the benefits of the action.

The debt of $9 million, initiated in 2018, was set to mature in 10 years (2028) with cumulative interest expense of near $1.5 million.

Storm pointed out there was no early payoff fee for the bonds, which were targeted for retirement using 90% of the existing quarter-cent sales tax revenue.

Storm’s letter stated that thanks to the taxpayers of Kingfisher County, the sales tax has exceeded the semiannual debt payments, creating a $2 million surplus in the account, and that along with excess funds from other county departments, there is sufficient cash to pay the jail’s bonds early and save money for the county, including audit fees and other service fees.

The action, will allow the jail trust authority to be dissolved, returning control to the county.

Storm said the total payoff will be about $6.7 million and can be paid with the $2 million in surplus from the sales tax revenue, plus $4.7 million from other county sources.

The only downside will be a decrease in minimal interest from excess cash held in CDs, Storm pointed out.

Commissioners noted that the CDs were earning only about 3% interest, anyway.

Commissioner Ray Alan Shimanek moved to pay off the bonds early (July 15) with Commissioner Jeff Moss seconding the motion and Commission Chairman Heath Dobrovolny joining in approving the action unanimously.

Commissioners opened bids on a District 3 bridge rehabilitation project (#137) near the intersection of NS Road 2740 and EW 890 Road (County Line Road west of Okarche).

High Point Construction’s low bid of $165,247.71 was accepted on Dobrovolny’s motion.

Other bids included: K&R Builders of Wheatland, $172,861.55; Railroad Yard of Stillwater, $191,823.35, and Redlands Construction, Warr Acres, $213,505.75.

Dobrovolny said the current bridge site is narrow and featured high concrete railings that vehicles hit frequently.

A 90-day permit was granted to Ovintiv for a 12-inch water line four miles west and four miles north of Kingfisher.

Monthly reports from the offices of sheriff, county clerk, treasurer, court clerk /court clerk records management, assessor, election board and health department received approval along with appropriations for May.

Six month bid lists for road materials and service, which were opened last week, were approved after tabulation – lowest to highest .

Nine public access drive applications – three in District 3 and six in District 1 – for Pintail Oilfield Services received approval at the following locations (all with 15-inch culverts).

1. - .5 mile south of EW850 on east side of NS 2700.

2. – on west side of NS 2820 Road .5 mile north of EW 850.

3. – on east side of NS 2820 Road .5 mile north of EW850 Road.

(all in District 3)

4. – .25 mile south of EW 840 Road on east side on NS 2840 Road.

5. – .5 mile south of EW840 Road on NS 2845 Road.

6. – .5 mile north of EW860 Road on NS 2850 Road.

7. – .5 mile south of EW 850 Road on NS 2870 Road.

8. – Southeast Quarter off EW850 Road at half mile line on NS 2880 Road (Section 7-15-6).

9. – .5 mile south of EW840 Road on NS2890 Road (Section 8-15-6).

(All in District 1)