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Branch County Sells Bonds To Pay For New Jail
Thursday, May 28, 2020

Branch County has sold bonds for $24.1 million to pay for the new Branch County Jail. According to a statement from County Administrator Bud Norman in The Daily Reporter, he said the rate was 2.69 percent for 18 years.

This comes as Michigan sees tax revenues fall which will cut state shared revenue in the coming months. Norman also said timing was good, citing that the window for rates were quite good and that if this action had been taken prior, rates would have been well north of 3 percent.

The county passed the 20-year, 1.25 mills in August 2018. It has collected the taxes since then. The 1.25 mills raises $1.625 million a year which has been put into a fund to cover design and architecture costs.

Completion of the project is scheduled for September 30th, 2021.



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