TIM PRATT
STARKVILLE — After some heated discussion Thursday, the Oktibbeha County Board of Supervisors took a step toward increasing the county’s bonding capacity.
The county is allowed to borrow up to 15 percent of its total assessed value. With an assessed value of $307 million, the county can borrow approximately $46 million.
Supervisors on Thursday voted unanimously to petition the state Legislature to increase its bonding capacity from 15 percent to 20 percent. Twenty percent of $307 million would be more than $61 million.
Thursday’s vote came with less than two weeks remaining before the board opens bids for the Oktibbeha County Hospital construction project.
The county has approximately $22.1 million available in unused debt, which will go toward the hospital project. Supervisors are worried the cost of the hospital renovations will “wipe out” what’s left of the $22.1 million, which could leave the county in a perilous position if a natural disaster struck and the board needed to borrow money.
Read complete article at Commercial Dispatch.
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