Board authorizes issuance of bonds amounting to $21M
Authorizing the issuance of general obligation bonds in the amount of $21,175,000 was voted on by the Schuylkill County commissioners at Wednesday's public meeting held at the courthouse in Pottsville. The proceeds of the bonds, together with interest earned, will be used as follows:
Series A Tax Exempt Bonds to pay for the acquisition of additional equipment for the county's 9-1-1 Center, particularly as necessary to comply with the federal communications commission's directive regarding narrow band width and to pay for the purchase and renovation of the building for county offices, to renovate other existing county buildings, to refund and restructure a portion of the county's outstanding Series 2008 Bonds, pay the costs and expenses related to issuing and insuring the Series A Bonds.
Series B Taxable Bonds to finance the acquisition of seven radio frequency licenses to be used by the 9-1-1- center, pay the costs and expenses related to issuing and insuring the Series B. Bonds, determining that such debt shall be nonelectoral debt of the county, providing that such bonds, when issued, shall be general obligation bonds of the county.
The commissioners ruled that it will be a private sale of the bonds and Capital Markets Corporation, Scranton, is the designated purchaser.
Series A Bonds will mature on Sept. 1, 2028, Sept. 1, 2031, Sept. 1, 2033, and Sept. 1, 2036.
Series B Bonds maturing prior to Sept. 1, 2021 are not subject to redemption prior to maturity and Series B Bonds maturing on Sept. 1, 2021 are subject to optional redemption prior to maturity on or after Sept. 1, 2020. Manufacturing and Traders Trust Company, Harrisburg, was appointed as paying agent, registrar and sinking funds depository.
Seven current coal land leases were approved for renewal for one year.
K&K Coal Company, whose principal owners are Bernard J. and Florence Kuperavage, were renewed a lease to mine on county land in East Norwegian Township. The past year they paid the county $3,984 in royalty payments, based on $3 per ton and to date have paid $630,471.33 in royalties.
Joe Kuperavage Coal Company, whose principal owners are Joseph Kuperavage and Robert Kuperavage, were renewed a lease to mine on county land in Blythe Township. The past year they paid $5,016 in royalties and to date on the life of the lease have paid $108,414. The same owners also have a lease on second coal mine tract in Blythe Township, which was also renewed. They paid $5,016 in royalties for the past year and $18,414 for the life of the lease.
They also had a third lease renewed to mine on county held coal lands in Blythe Township and paid $5,320 for the past year and have paid in $405,029.50 on the life of the lease. On a fourth lease to mine also in Blythe Township they paid $1,880 on the current lease and $10,340 on the grand total and on a fifth lease to mine in Blythe Township they paid $58,130.04 on the current lease and $217,845.32 on the grand total.
Bell Corporation, whose principal owners are Ronald J. and Judith A. Kupervage, had their lease renewed to mine on county held land in Schuylkill Township. They paid $17,760 on their current lease and $1,105,393.18 for the life of the lease.
Three purchase of service agreements were approved for the Children and Youth Services Agency, Redco Group, Pottsville, for evaluation and assessments at $15.23 per unit; Perseus House, Erie, for house shelter at $187.06 per day and Kidspeace National Centers, Schnecksville, for family care at $187.06 per day, residential
Commissioner Frank Staudenmeier announced the courthouse will be closed Thursday, Nov. 22, and Friday, Nov. 23, in observance of Thanksgiving Holiday.