COMMISSIONERS MEETING MAY 26, 2005
The Elmore County Commissioners met in special session on the above date in the Commissioner’s Room, basement of the Elmore County Courthouse, 150 South 4th East, Mountain Home, Idaho.
Present at the meeting were Chairman Larry Rose, Commissioners Mary Egusquiza and Connie Cruser. Also present were Clerk Gail Best, Deputy Elections Clerk Vivian Garcia, Sheriff Rick Layher, Bud Way Vice President of Public Finance - Wells Fargo Bank, and Kelly Everett of the Mountain Home News.
The purpose of the special meeting was to canvass the Jail Bond Election held May 24, 2005. The Board reviewed the poll books as presented by the Clerk’s office. Motion by Rose, second by Cruser, to accept the results of the election as presented by the Clerk’s office.
ROSE - AYE
EGUSQUIZA - AYE
CRUSER - AYE Motion carried and so ordered.
Bud Way of Wells Fargo Bank then spoke to the Board. Mr. Way stated that he has been aboard on the jail bond since the beginning in 1994 when the whole process began and First Security Bank was appointed as Financial Advisor for the project. Mr. Way offered his congratulations on the passing of the bond issue. Mr. Way stated his job is to work for the County as their financial advisor or consultant.
Mr. Way stated that when the Mountain Home Library was ready to sell bonds a big issue was selling the bonds locally, which is absolutely fine but it is important to be certain that you are getting the best rates possible for the good of the County as a whole.
Mr. Way stated that one big emphasis is on complete disclosure of all aspects of the financial health of Elmore County. He has already met with the Public Affairs Officer at Mountain Home Air Force Base so that he can assure investors that the Base Realignment Advisory Committee’s actions will not have a negative impact on the financial health of the County.
Mr. Way stated that the bonds should be sold at the end of June and that the issuance costs will be approximately $30,000 to $40,000. The fee for the financial advisor has not changed through the years and still is $15,000 - Mr. Way stated that since they came aboard in 1994 Wells Fargo has not charged the County anything.
Sheriff Layher stated he had spoken with Russ Moorhead and they will know by the June 13th meeting if the County will need a contract with the architect.
Motion by Rose, second by Egusquiza, to adjourn.
ROSE - AYE
EGUSQUIZA - AYE
CRUSER - AYE Motion carried and so ordered.
