The Marshall County Commissioners expected to be further along with the jail bond refinancing project.
During their meeting Monday the County Attorney Jim Clevenger said the Preliminary Official Statement was to have been distributed the week of August 25th. As of yet that hasn’t been done.
On Monday Umbaugh, the county’s financial consultants requested the Commissioners signed the Preliminary Official Statement (POS)and an appendix with demographic information on the county.
It is anticipated the POS would be distributed later this week and the bond sale would likely be negotiated a week or so after distribution.
The commissioners will then need to adopt resolutions ratifying the bond sale and closing documents at their next meeting in early October.
Umbaugh still anticipates a good interest rate for the bond sale and the commissioners have already determined there must be a savings of a minimum of $300,000 to complete the transaction.
The Board of Directors of the Marshall County Holding Corporation also approved the Preliminary Official Statement and appendix during their meeting Monday.
