County can’t use vendor financing for section corner project
July 19th, 2006The County Board of Commissioners does not have statutory authority for vendor financing.
That is the findings of Sibley County Attorney Dave Schauer, who researched whether or not Sibley County could finance through Sibley Surveyors a section corner restoration/relocation project.
Last month, Sibley County received a proposal of $376,000 to complete the 17 townships. One township is now completed, and a second one is almost completed.
Under the first proposal, the county would be required to pay $23,400 at the completion of each township.
Option two would have had the county finance through Sibley Surveyors for 15 years plus 3% interest, for annual payments of $31,496.
Commissioners will talk to Avery Grochow, owner of Sibley Surveyors, to see if the section corner project could be spread over four or five years. They want to determine what amount should be budgeted annually.
Attorney Dave Schauer and Auditor Lisa Pfarr will research whether or not a special county levy for this work would be considered above and beyond the regular levy limits, if they would be imposed by the state legislature in the future.
