The Guthrie County Board of Supervisors met Tuesday and established a public hearing date for July 8th as it pertains to entering a $12 million general obligation loan agreement.

The county is considering entering into this agreement with numerous county banks in order to pay for county road and bridge projects as designated by County Engineer Josh Sebern in the five-year Urban Renewal Plan.

Attorney Bob Josten, who has provided the Supervisors with council on urban renewal items and tax increment financing (TIF) in the past, spoke with the Board via conference call Tuesday morning, and he says the public hearing is needed to qualify Guthrie County for the $12 million loan.

Josten says he will be recommending to Barry Monoghan, who is representing the group of county banks, that the banks also offer the county some taxable short-term financing aside from the general obligation loan.  This would allow the Supervisors to certify all $12 million of debt, and it would also make their short-term debts payable through TIF revenue generated by the county’s wind farm.

The Supervisors remain concerned about the state legislature changing TIF laws in the years ahead once they enter a long-term debt, but Josten says “that bridge can be crossed when things get there.”

Josten says he is not concerned about the legislature at this time.

The Supervisors ultimately approved the July 8 general obligation loan public hearing date with a 3-2 vote.  Supervisors Mike Dickson and Jerry Caraher provided the “nayes.”