The Jasper County Board of Supervisors have accepted an interest rate just below 5% on the sale of Taxable General Obligation Urban Renewal Capital Loan Notes that will fund the purchase of land for the 481-acre Jasper Rail Park. Owner and Managing Director of Public Financial Management Jon Burmeister  led the County Supervisors through Tuesday’s bond sale to Collier Securities. 

“Collier Securities came in with a low true interest cost of 4.91%. TIC is similar to APR if you go and get a car loan. We call it True Interest Cost in our business. The last one we did was at 4.86%, so a little higher than what we received a little over a month ago.”  

The County and Iowa Interstate Railroad are working together to develop the industrial park around the Iowa Interstate Railroad’s Newton Railyard. The County advertised for a $1,895,000 bond sale Tuesday, but will only issue $1,715,000 in bonds, due to savings from the prior $4.3 million bond sale. Those bonds went to Robert W. Baird & Consortium Incorporated out of Milwaukee, Wisconsin.