By John Estridge
Franklin County Council unanimously approved a more than $1 million bond, and decided a good bit of the money should go to fix the courthouse’s bell tower.
The original bond was used for rehabilitating the old Brookville High School/Middle School into the Franklin County Government Center and is ready to come off as it has been paid off. If council keeps the bond on, rolls it over — so to speak, then it is a revenue-neutral bond, meaning taxpayers will not see an increase or a decrease in taxes.
Ostensibly, the bond was going to pay for equipment and technology in all of the county’s offices as well as equipment for the highway department. However, council member Joe Gillespie, a former county surveyor for several decades, said at least some of money should be used to repair the bell tower on the courthouse.
“I think it’s not wise to sell a bond issue for computers and lights and other things that should be budgeted,” Gillespie said. “I know we are going to spend a lot of money on the bell tower.”
The county hired an engineer, he was in charge of the St. Michael steeple rehabilitation last year, to assess the bell tower. Gillespie and county commission president Tom Linkel said the repairs could be very costly.
The engineer used a drone to take high resolution photos of the situation. County officials were tipped off by a passerby concerning the bell tower earlier this year who pointed out the bell tower is leaning.
Gillespie said the problems are so bad, the bell tower will have to be removed, repaired and then put back onto the courthouse. Also, the county has bats in its belfry.
This is a serious issue. Guano, left by the bats, is considered a toxic substance and has to be removed by experts. If done improperly, it can cause Histoplasmosis, according to several different websites.
According to the Centers for Disease Control, Histoplasmosis is an infection caused by a fungus called Histoplasma. The fungus lives in the environment, particularly in soil that contains large amounts of bird or bat droppings. In the United States, Histoplasma mainly lives in the central and eastern states, especially areas around the Ohio and Mississippi River valleys.
Linkel said they should receive a quote for the repairs in a couple of weeks.
Council member Scott McDonough served on the committee to come up with ideas on how the bond money could best be used for the county. In response to Gillespie, McDonough suggested the computers and other equipment be purchased with CARES money.
According to the treasury.gov website, the CARES Act provides assistance for state, local, and tribal governments. Through the Coronavirus Relief Fund, the CARES Act provides for payments to state, local, and tribal governments navigating the impact of the COVID-19 outbreak. The CARES Act established the $150 billion Coronavirus Relief Fund.
It is a reimbursing fund, which means the county pays for the equipment, and then the state refunds the money as the money is administered by the state, Franklin County Auditor Karla Bauman said. Bauman and Derrike Kolb, the first deputy in the auditor’s office, said the turnaround has been remarkable with the money coming back to the county within seven to 10 days of when the county sends in a claim.
Instead of going for equipment, the bond money should be put in Cumulative Capital Fund, Gillespie said. Cumulative Capital Fund can be used for repairs of county buildings, among other uses.
Linkel agreed with Gillespie. As a commissioner, Linkel’s responsibilities include overseeing the highway department. He said as badly as the highway department needs equipment, he would take money from there to put into courthouse repairs.
“Fixing the courthouse is top priority,” Linkel said. “If it takes money away from the highway department, as bad as we need it, we can make do. We have to fix the bell tower. I think we can get a number in two or three weeks.”
Council member Glen Bischoff said the county should seek historical grants from Indiana Landmarks. Indiana Landmarks helped with a grant for the Government Center Project. Its eastern regional office is located in the Huddleston House between Dublin and Cambridge City off U.S. 40.
McDonough also said council can move the money within the bond. None of the money has been allocated for any specific purpose.
According to representatives from Reedy Financial Group, the interest rate on the bond cannot be more than 6 percent. However, it is thought the interest rate will be around 3 percent.
A bond analysis by the Reedy Financial Group estimates the entire bond should be around $1.22 million with issuance costs around $115,000, leaving the county with a little more than $1.1 million.
Issuance costs include: bond counsel, $40,000; municipal advisor, $30,000; local counsel, $15,000; capitalized interest, $18,300 and a 1 percent discount, $12,200.