PORT TOWNSEND — Jefferson County will pay for a new Sheriff’s Office annex, courthouse improvements and other upgrades through the sale of $4.58 million in bonds.
Commissioners Dan Titterness, R-Port Townsend, Glen Huntingford, R-Chimacum, and Wendi Wrinkle, D-Shine, unanimously passed a resolution Monday authorizing the issuance of limited tax general obligation bonds.
That means Martin Nelson & Co. of Seattle can now sell the 16-year bonds, which come in denominations of $5,000.
“People like to buy bonds because of the safety of the principal,” Martin Nelson’s senior municipal underwriter Jim Nelson said, noting the bonds will likely sell out by today.
Of the $4.58 million, $1 million would cover the costs of Jefferson County Courthouse renovations.
The rest would cover the annex, renovations at the Jefferson County Sheriff’s Office and work at county-owned properties at Castle Hill Mall.
County Administrator David Goldsmith said the county will build a new 7,800-square-foot annex next to the Sheriff’s Office in Port Hadlock.
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The rest of the story appears in the Tuesday Peninsula Daily News Jefferson County edition. Click on SUBSCRIBE, above, to get the PDN delivered to your home or office.