County issues $14 million in tax-exempt bonds

By JULIE GOLDER

Staff writer

Boundary County is issuing tax-exempt bonds that will pay to construct a fiber optic internet network in Boundary County.

Commissioner Ron Smith said $14 million in tax exempt bonds to fund the project will be issued.

 This will bring the Internet to most Boundary County residents, including those who are not able to receive it now.

The fiber optics will run from the Canadian border and from Moyie Springs to Seattle, Wash.

“These bonds will be paid back by revenue through individuals who hook up the Internet,” Smith said.

The Boundary County

Economic Development Corp. is selling the bonds.

He said that the bonds should be covered by the revenue of about 35 percent of customers hooking up to the Internet in Boundary County.

“We really can’t lose we aren’t anticipating that less than 35 percent will hook up to the Internet,” said Smith.

The county also as received fund to construct an elevator in the Restorium.

The elevator has been a life-long dream of the Boundary County Restorium to help residents  get safely to Boundary Community Hospital appointments.

Smith said the Idaho Department of Commerce recently notified him that a $115,238 grant has been approved to build this elevator.

The county has also budgeted $75,000 toward the elevator project and the Friends of the Restorium, raised $9,000 to the project.

“This is $214,000 to pay for the elevator at the Restorium,” said Smith. “The Friends of the Restorium have just been great in helping with the project plans and raising money.”

Smith also reminds students that they can apply for funds to go to college at the commissioners office. The county budgets about $90,000 a year for county residents to attend college. Any resident who wants to go to North Idaho College receives a lifetime benefit of $3,000 from the county. The student does not receive those funds directly, but instead is charged a reduced fee per credit.

 Smith said funds for the NIC grants come from the liquor tax. It has helped many students attend college and obtain dual credits as well.