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Commissioners will add to budget for road, bridge repair

Boone County Commissioners will be adding to the 2019-20 county road budget primarily for road and bridge repair.
Like several other Nebraska counties hit hard by flooding last March, Boone County could be issuing highway allocation bonds for the coming fiscal year.
This would be a $5 million bond issue for road and bridge repairs. It would be expected to yield $4.8 million in funding to the county that can be repaid over seven years using the county’s state highway allocation payments to pay the bonds.
Neighboring Nance County is also using this finance method for flood damage repairs.
Commissioners will consider the highway allocation bond option at their Sept. 9 meeting.
On Monday, commissioners reviewed the 2019-20 preliminary county budget again with Rick Martinsen, CPA, during their meeting.
Total budget of expenditures for the road and bridge fund is listed at $7,475,044 for the coming year. Commissioners said it is not likely all of this money would be spent in one fiscal year, but there are several major projects to be done. This is nearly $2.49 million more than the actual road and bridge expenditures for the current fiscal year.
The county is expecting reimbursement from the Federal Emergency Management Agency (FEMA) for a share of flood damage repair expenses, but it could take several years to receive those funds.