Bonds Issued for Northeast Industrial Highway
MADISON - The Madison County Commissioners have approved the issuance of $1.5-million in Highway Allocation Fund Pledge Bonds to complete funding for the Northeast Industrial Highway. John Trecek with Ameritas Investment told the commissioners this morning that the bonds will have a five-year call option. The true interest rate on the bonds will be 2.34 percent, and the closing date for the issue will be October 8th. County Highway Superintendent Dick Johnson says the bonds are needed to help pay for Madison County’s share of the project. Stanton County has contributed $1-million for the highway that will link Highway 35 and Highway 81 north of Norfolk. The Railroad Transportation District provided $2-million, and the city of Norfolk has pledged $3-million. The balance of the approximately $11-million project will be paid by Madison County.