(Audubon) Audubon County Board of Supervisors Chairman reports positive news when it comes to the county’s bonding process.
A 3.52% rate was agreed upon. “We did the bond letting for our $6.7 million bond issuance and this is going to fund highway and road projects in Audubon County. The primary one is F32 West which will start in about a month. The bonding came back really good. 3.52% was the low bidder.”
Supervisor’s Chairman Doug Sorensen reports all of the bids were very close to one another. “There were only three one hundredths of a percent between the top five bidders. It was very competitive. There were 8 bidders which is a very large number of bidders on this size of a bond. The volume is low so the number of bidders is high. We had bidding companies from Texas and New York which is very unusual in Iowa. We were happy at 3.52%.”
Sorensen admits it’s a lot higher than the 1.8% the last time they bonded. “But, given the inflation and all the construction costs we know that we are well below the annual inflation in construction costs so it makes it a good spend of our money to get these projects done while they are cheaper.”
