Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Investors pull funds from private credit as tech markets wobble
    • 4 Low-Cost Vanguard ETFs That Make Retirement Investing Easier
    • Kotak MF temporarily suspends 4 international funds – Business News
    • Vanguard Growth ETFs: Should You Invest in VONG or VUG?
    • How equity funds are positioned in a broader mutual fund investment journey
    • BlackRock says these bonds have attractive yields — and can help insulate from AI disruption
    • JPMorgan says 3 trends are quietly reshaping the $19.5 trillion ETF market. If you hold index funds or ETFs, here’s what’s coming
    • Bitcoin ETFs Pull $2B in April, Marking Highest Inflows of 2026
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»Warren County board authorizes bond issue for new jail
    Bonds

    Warren County board authorizes bond issue for new jail

    October 25, 2024


    Construction on a new, modern law enforcement center in Warren County is expected to begin in April of next year.

    The new jail and sheriff’s office near U.S. Route 34 in Monmouth will replace the county’s century-old jail downtown.

    At a special meeting this week, the Warren County board approved an ordinance authorizing the issuance of up to $23 million in bonds to fund the construction.

    Chip Algren, former Warren County State’s Attorney and chair of the Citizens Advisory Committee formed to study options for a new jail, said the county will likely issue around $18 million in bonds for the project in the spring, following a public hearing next month.

    The project is supported by a three-quarter percent sales tax increase approved by Warren County voters in April 2023. It went to effect on Jan. 1 of this year.

    Algren said by April 2025, the tax increase will have generated more than $1 million. Combined with funds designated by the county board, the additional sales tax revenue will get construction going.

    “We had $2 million that came in through COVID money. Then the county will have roughly another million dollars from its general fund to effectively put together a down payment of around $4 million come spring,” Algren said.

    A committee including Algren, Sheriff Martin Edwards, Chief Deputy Jeremy Raymond, and County Board Chair Mike Pearson will now work to finalize designs with Ringland-Johnson Construction. Then the project will go out to bid.

    “The design and the bidding process is going to take roughly four months. Then we’ll get the bids back, finalize that, and hopefully start construction around the first part of April,” Algren said.

    Construction is expected to take 15 to 18 months.

    The sales tax increase will then pay debt service on the bonds.

    The county board also voted to make the new jail a 60-bed facility on the recommendation of the Citizens Advisory Committee.

    Due to conditions at the current jail, Warren County has housed female inmates in other counties. With the new 60-bed facility, not being able to segregate men from women will no longer be an issue.

    Algren said Warren County is already housing inmates from Henderson County and that’s expected to continue.

    It’s possible Warren County could generate income by housing inmates from additional counties or even federal inmates in the new jail, but Algren said that’s not why the county is investing in the facility.

    “When we went into this project, we did not go into it relying on housing other county inmates. If we were able to do so, fine, that brings in income. But we wanted to make sure that we could handle this project without relying on that outside income,” Algren said.

    Instead, he said the county is investing in a new jail because the current one is outdated, unsafe, and structurally deficient.

    “Our county jail is well over a hundred years old and it’s outlived its usefulness,” Algren said. “We’re going to get shut down by the Department of Corrections someday if we don’t do something.”

    The county already owns the property on Industrial Park Drive where the new jail and sheriff’s office will be built.

    Tri States Public Radio produced this story.  TSPR relies on financial support from our readers and listeners in order to provide coverage of the issues that matter to west central Illinois, southeast Iowa, and northeast Missouri. As someone who values the content created by TSPR’s news department please consider making a financial contribution.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    BlackRock says these bonds have attractive yields — and can help insulate from AI disruption

    May 1, 2026

    Who won money in Norfolk in the May 2026 Premium Bonds?

    May 1, 2026

    Premium Bonds May winners revealed: Who won the jackpot?

    May 1, 2026
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    FE Investments | Diversification is back, but the rules have changed

    April 30, 2026

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Funds

    Investors pull funds from private credit as tech markets wobble

    May 1, 2026

    Short sellers’ bets against US life insurance stocks more than doubled in the past year…

    4 Low-Cost Vanguard ETFs That Make Retirement Investing Easier

    May 1, 2026

    Kotak MF temporarily suspends 4 international funds – Business News

    May 1, 2026

    Vanguard Growth ETFs: Should You Invest in VONG or VUG?

    May 1, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Is Columbia Global Technology Growth Z (CMTFX) a Strong Mutual Fund Pick Right Now?

    September 8, 2025

    Central Bank to question Gary Gannon’s right to challenge its role in sale of Israeli bonds – The Irish Times

    July 29, 2025

    Tesla, Nvidia And Rigetti Lead Single-Stock ETF Surge – IonQ (NYSE:IONQ), AST SpaceMobile (NASDAQ:ASTS)

    October 15, 2025
    Our Picks

    Investors pull funds from private credit as tech markets wobble

    May 1, 2026

    4 Low-Cost Vanguard ETFs That Make Retirement Investing Easier

    May 1, 2026

    Kotak MF temporarily suspends 4 international funds – Business News

    May 1, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹50 lakh retirement corpus: How to invest in SCSS, mutual funds, equities and other assets — CA offers tips

    April 16, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.