The Guthrie County Board of Supervisors is revisiting the possibility of providing $2.6 million of bond capacity for the City of Stuart to perform needed repairs and improvements to the city’s main thoroughfares.
Stuart representative and D.A. Davidson Managing Director Chip Schultz says the city would pay all interest and fees, while also paying Guthrie County an annual $10,000 administrative fee for as long as the debt remains.
Schultz presented five and seven year repayment plans. He stated that a number of large projects taken on by Stuart over the past several years, including construction of the Saints Center, swimming pool and city hall have put the city in a position where they are unable to fund these needed infrastructure improvements on their own.
Supervisor Cliff Carney questioned whether the city was prepared to pay off any new debt, noting that any economic downturn could further jeopardize the city’s finances.
Menlo Flint Hills Resources ethanol plant manager Todd Benton told the Board that the plant is in favor of the improvements, because it would ensure ease of access to the facility for their many customers.
The Supervisors took no action on the request Tuesday morning.

