Posted at: 09/17/2013 3:27 PM
Updated at: 09/17/2013 3:35 PM
Mitchell County Residents Will Vote November 5th On Courthouse Financing
Mitchell County Courthouse Built in 1858
A November 5 date has been set in Mitchell County to see if residents there want to build a new courthouse using general obligation bonds.
The County Board of Supervisors voted this morning to let the voters decide whether to use general obligation bonds, which would be a 2 percent savings in cost versus using revenue bonds.
Iowa code requires a public vote on projects using general obligation bonds.
If that vote fails to gain a super majority of 60 percent in favor, the board will most likely go to their next option by using revenue bonds to finance the 5.9 million dollar project.
Revenue bonds can be used under the authority of the county board of supervisors and do not require a public vote.
The current courthouse is 155 years old having been built in 1858.