Bonds sold, early design

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Bonds sold, early design

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Costs

for Fayette County's new jail and courthouse

complex have been fixed at $55.25 million, and

bonds have been sold for that amount.

The

county will have to pay $3.96 million a year on

the debt, or about $250,000 less than anticipated

in early drafts of a proposed county budget for

fiscal year 2001.

During

earlier discussions, county officials have

estimated costs at $60 million or higher,

depending on how many bells and whistles might be

included in the project.

But

in preparation for sale of the bonds, consulting

firm Jim Mallett and Associates has completed

preliminary design and determined more accurate

cost figures, said county Commissioner Greg Dunn.

Dunn is the County Commission's "point

man" on the jail project, overseeing and

coordinating the work of consultants and

architects.

In

a called meeting last week, the commission

officially approved sale of the bonds, to be

repaid at an interest rate of 5.968 percent over

30 years.

That's

"a little lower than we had thought" as

well, said Dunn, "but it's pretty close to

what we were projecting."

The

lower-than-anticipated costs for the jail debt

may result in taxes being increased less than had

been anticipated as well (see related story).

Budget

figures the County Commission is currently

working with anticipate a tax increase of just

over 1.5 mills, about $106 on a $200,000 home.

Planned

impact fees for the jail - fees charged to

developers to cover the costs of new county

facilities made necessary by their developments

- may reduce the tax burden further,

depending upon how soon state approval can be

arranged so the county can begin collecting them.

Commissioners

have 30 days to review the preliminary design

before final design work begins. Dunn said final

design sometimes takes as much as a year, but

commissioners are pushing for faster turnaroun d.

Construction on the jail

is expected to begin early in 2001, he said.

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