Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Long-term life cycle mutual funds get Sebi approval
    • HDFC vs. Parag Parikh vs. Franklin: Which flexi cap fund should be your core portfolio bet? – Money Insights News
    • Sebi overhauls mutual fund classification, introduces life-cycle funds, scraps solution-oriented schemes
    • Big Shake-Up in Mutual Funds! SEBI Scraps Solution Funds, Introduces Life-Cycle Category | 5 Changes Explained
    • Ireland the ‘engine room’ as value of Europe’s ETFs hits €2.7 trillion
    • Sebi Gold And Silver Valuation Norms: Sebi revises valuation norms for gold, silver held by mutual funds; polled spot prices to be used from April 2026
    • Sebi introduces Life Cycle Funds: Radhika Gupta of Edelweiss MF explains what it means for investors
    • These 3 Vanguard Growth ETFs Are Worth Buying, Even Near All-Time Highs
    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

    Martin Lewis’ MSE explains if Premium Bonds are still ‘worth it’ after rate cut

    February 26, 2026

    Premium Bonds ‘not even close’ warning as NS&I announces major change

    February 25, 2026

    Premium Bonds to offer less big prizes from April 2026

    February 25, 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

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

    November 19, 2023

    The Evolution of Art and Art Investments: A Historical Perspective on Fruitful Returns and Wealth Management

    August 21, 2023
    Don't Miss
    Mutual Funds

    Long-term life cycle mutual funds get Sebi approval

    February 27, 2026

    MUMBAI: Retail investors looking for a simpler way to plan for long-term goals such as…

    HDFC vs. Parag Parikh vs. Franklin: Which flexi cap fund should be your core portfolio bet? – Money Insights News

    February 27, 2026

    Sebi overhauls mutual fund classification, introduces life-cycle funds, scraps solution-oriented schemes

    February 26, 2026

    Big Shake-Up in Mutual Funds! SEBI Scraps Solution Funds, Introduces Life-Cycle Category | 5 Changes Explained

    February 26, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    2025: When Commodities ETFs Roared Back — And Not Just Gold – SPDR Gold Shares (ARCA:GLD), iShares Gold Trust Shares (ARCA:IAU)

    January 12, 2026

    North Dakota’s lone polytechnic college returns to market

    July 24, 2024

    Hyprop Investments va déclarer un dividende intérimaire de 105-115 cents par action -Le 11 mars 2025 à 12:34

    March 11, 2025
    Our Picks

    Long-term life cycle mutual funds get Sebi approval

    February 27, 2026

    HDFC vs. Parag Parikh vs. Franklin: Which flexi cap fund should be your core portfolio bet? – Money Insights News

    February 27, 2026

    Sebi overhauls mutual fund classification, introduces life-cycle funds, scraps solution-oriented schemes

    February 26, 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

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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