Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • At 68 She’ll Sell $100,000 of a Fund She’s Bought Every Month for 20 Years. Which Shares She Tells the Brokerage to Sell Can Change Her Tax Bill by Thousands
    • SBI Funds Management assets rise to ₹13.1 lakh crore in September quarter
    • Comparing Performance and Checking Dividends—Why S&P 500 and Mutual Fund Figures Differ|HIRO
    • Should I invest in sector funds such as banking, technology, pharma | Personal Finance
    • Mutual fund industry must shift from access to investor outcomes: Experts
    • Index vs actively managed funds: What’s better for new investors? | Personal Finance
    • Will Canadians’ faith in mutual funds survive total cost reporting?
    • US spot Ethereum ETFs log record 23-day net outflow streak
    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

    Treasury Bonds vs. Corporate Bonds: Breaking Down VGIT and VCIT

    October 30, 2026

    Notice on public offering of subordinated bonds of Inbank

    October 29, 2026

    Arini losses deepen to 26% as European junk bond selloff…

    October 29, 2026
    Leave A Reply Cancel Reply

    Top Posts

    Top 3 ASX ETFs for a first-time investor in 2026

    August 21, 2026

    Bitcoin ETFs lose $643m in biggest daily exit since June

    October 31, 2026

    At 68 She’ll Sell $100,000 of a Fund She’s Bought Every Month for 20 Years. Which Shares She Tells the Brokerage to Sell Can Change Her Tax Bill by Thousands

    November 1, 2026

    Premium Bonds Winners October 2026, who won in the NS&Is?

    September 30, 2026
    Don't Miss
    Mutual Funds

    At 68 She’ll Sell $100,000 of a Fund She’s Bought Every Month for 20 Years. Which Shares She Tells the Brokerage to Sell Can Change Her Tax Bill by Thousands

    November 1, 2026

    Quick Read Choosing highest-cost shares first over FIFO on a $100,000 fund sale cuts federal…

    SBI Funds Management assets rise to ₹13.1 lakh crore in September quarter

    November 1, 2026

    Comparing Performance and Checking Dividends—Why S&P 500 and Mutual Fund Figures Differ|HIRO

    November 1, 2026

    Should I invest in sector funds such as banking, technology, pharma | Personal Finance

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

    How Does a Crypto SIP Work? A Beginner’s Guide to Systematic Investing

    September 7, 2026

    Desjardins Investments unveils new additions to its mutual fund lineup

    July 14, 2025

    Power Grid board approves raising up to Rs 5,000 cr via bonds

    October 22, 2024
    Our Picks

    At 68 She’ll Sell $100,000 of a Fund She’s Bought Every Month for 20 Years. Which Shares She Tells the Brokerage to Sell Can Change Her Tax Bill by Thousands

    November 1, 2026

    SBI Funds Management assets rise to ₹13.1 lakh crore in September quarter

    November 1, 2026

    Comparing Performance and Checking Dividends—Why S&P 500 and Mutual Fund Figures Differ|HIRO

    November 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

    🇮🇸 CPP Investments and Equinix complete atNorth acquisition to support growth of leading Nordic data center platform

    September 1, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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