Dare County sells bonds to finance three projects

Published 8:17 am Thursday, May 11, 2023

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Dare County sold limited obligation bonds to build a new Dare County medical helicopter hanger and quarters, a new EMS station at Southern Shores and, in a joint project, a new EMS station and fire station for Kill Devil Hills.

The true interest cost was 3.446%.

The bonds were sought after, including some “big names,” said David Clawson, Dare County finance director. Orders totaled $124 million for $38 million in bonds. Piper Sandler lowered the interest cost and attracted 14 bidders.

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Bond proceeds from series 2023A limited obligation bonds totaled $43,336,469.50.

The final annual debt service averages $364,000 less per year that what is in the capital/debt affordability model.

The sale took place April 20, 2023.

On May 1, Dare’s commissioners adopted an amendment to the capital project ordinance for the series 2023A to reflect the final numbers from the bond sale and to make corrections in the Dare MedFlight and Southern Shores projects.

The commissioners approved construction of a welding lab gas storage building at the College of The Albemarle’s Manteo campus. The project will remove gas tanks from the lab and have gas piped into the lab from the new building. The quote from Barnhill Contracting totals $380,563. Enough money is left in the project budget to cover the cost.

In the consent agenda, in addition to the approval of minutes and tax collector’s report, the commissioners:

– Approved a contract with Courthouse Computer Systems, Inc., which provides the data conversion, licensing, software support and website maintenance for the computer recording equipment at the Register of Deeds. This includes the software modules used for document recording, indexing, retrieval, imaging, vital records management, marriage license applications, issuance and image redaction. Contract period will be for July 1, 2023 through June 30, 2025. The cost is $37,000 annually.

– Approved the Dare County disaster debris management contract with CTC Disaster Response as the primary contractor and Southern Disaster Recovery as the secondary contract. An itemized list of work is accompanied by pricing.

­– Adopted a series of Department of Environmental Quality Shallow Draft Navigation Fund Resolutions that requests 75% cost share for fiscal year 2024 for dredging by the Miss Katie in  Hatteras Inlet for $750,000 with Dare’s share $250,000. The Department of Environmental Quality requested that the channels near Oregon Inlet be split out by channel. A total of $9 million in requested from the state with Dare County posting $3 million. The funds are split with $8.5 million going to Oregon Inlet, $1.5 million to Walter Slough and the Crack, $1.6 million from extension 17 to Wanchese and Manteo, and $400,000 to Old Lighthouse Channel 2.

– Adopted a budget amendment to pay for Coastal Protection Engineering to perform surveys of SAV, shellfish and cultural resources in the Crack and Walter Slough as requested. Surveys would cost $130,000 with 75% coming from the state and $32,500 from Dare County.

The commissioners made appointments to a council, a commission and a board, as follows:

– Juvenile Crime Prevention Council: Reappointed Robert Trivette, Vance Haskett, Gail Hutchison, Amber Younce, Stephanie Webb, Steve House, Sara Sampson, Sheila Davies, Katherine Irby and Marcus Hester-Smith. The council appointed Amber Nibe to replace Michael McGough, who resigned, and appointed Jennifer Wooten as a member of the public representing interests of families with at-risk juveniles. A vacancy remains.

– Dare County Waterways Commission: Reappointed Michael Flynn and Kenneth “KP” Scott, III. The term of Kermit W. Skinner also expires in June. His position remains vacant.

– Library Board, Dare: reappointed Ervin Bateman and Janice Willis.