$1.5 million in bonds issued for EOC
Wednesday, May 8, 2013 1:00 AM
A resolution issuing $1.5 million in general obligation bonds for a new county Emergency Operations Center was approved Monday by the Board of Supervisors.
The bonds, to help fund the county's grant match for the EOC and to purchase one or more new garbage trucks, were sold to Memphis-based investment banking firm Duncan-Williams.
The only other bid, from First Tennessee National Bank in partnership with The Citizens Bank, failed to meet IRS rules and regulations, Troy Johnson with the Butler Snow law firm in Jackson, told supervisors on Monday.
The county hired Butler Snow and Governmental Consultants Inc. of Jackson to assist with the bond sales.
Supervisors discussed readvertising for the bond sale, but noted that the time frame would delay the project and could result in a higher interest rate.
The bond sale will also fund the necessary new equipment the county must purchase to make the $1.6 million new EOC operational.
The EOC will have new 911 answering equipment, dispatching consoles, servers, fiber optics and other new technology, which will be funded by the county.
In addition, the county has refinanced its $4 million in park debt at a saving of $101,000 over the remainder of the loan.
By doing the overall restructuring at one time, the county saved money in legal and consulting fees, among other areas, County Administrator Benjie Coats said.
Tyler Construction Group submitted the overall low bid of $618,900 for the base construction of the EOC, along with the five alternates or additions such as a safe room.
Tyler's overall bid was under budget estimates.
However, supervisors have not formally accepted the bid, noting the county needed to finalized its contract with W. G. Yates and Sons Construction Co., for construction management services first. The total cost for in-kind services provided on the project by the county road department for such things as site work is also yet to be determined.
The county was awarded two matching grants to aid in funding the new facility.
A $976,800 grant was presented to the county by the Mississippi Office of Homeland Security, on behalf of the Mississippi Department of Public Safety.
In addition, the county received a $233,267 federal matching grant to harden the exterior wall, roof, windows and doors.
The grants require a 25 percent match by the county.
The EOC, to be constructed off Chestnut Street near the county jail, will house 911 communications, administrative offices, a so-called "war room," support space and storage.