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THE CITY REBORN FROM THE ASHES OF AMERICA'S MOST DISASTROUS FOREST FIRE
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County Considering $50 Million Loan For Marinette Marine

Issue Date: March 16, 2018

Marinette County Board of Supervisors will be faced with some major decisions in the next two weeks. At committee meetings this week there have been recommendations that they eliminate the elected coroner position in favor of a hired medical examiner; issue $50 million in bonds for a loan to help Fincantieri Marinette Marine Corporation get a major new ship building contract, and add an other half a percent sales tax to raise funds for promoting economic development in the county.

The sales tax proposal was introduced by County Administrator John LeFebvre and County Board Chair Mark Anderson at an Economic Development and Tourism Committee meeting on Monday, March 12. After considerable discussion that committee voted without dissent to pass it along to the full County Board for approval at its meeting on Tuesday, March 27. Nothing can be done to make this happen unless the Wisconsin State Legislature acts favorably after it returns to session in January of 2019.

The Committee also recommended approval of a $50 million loan to Marinette Marine after being assured it will be fully repaid, and will not affect the county's bond rating.

County Board Chair Mark Anderson has tentatively scheduled a special County Board meeting for Tuesday, March 20, for discussion only on the two funding proposals. There is no provision for action on the meeting agenda.

Change in the coroner's position from elected to appointed was recommended for approval by the Personnel Committee at its meeting on Thursday, March 8 and the Law Enforcement Committee at its meeting on March 13. and is slated for action at the March 27 County Board meeting.

Agenda for a Finance Committee meeting to be held at 9 a.m. Friday, March 16, includes discussion and possible action on recommending County Board approve "resolution regarding "funding mechanism for community and economic development," which is most likely the sales tax proposal.

They are also slated to consider recommending County Board approve a Scope of Engagement letter with Hutchinson, Shockey, Erley & Co "regarding proposed issuance of debt related to the Fincantieri Marinette Marine (FMM) loan request," and to consider recommending County Board approve an Initial Resolution Authorizing General Obligation Debt in an amount not to exceed $50,000,000 for economic development purposes related to the upgrade and reconfiguration of Fincantieri Marinette Marine (FMM) shipyard.

Other business slated for that meeting includes possible recommendation to purchase Varonis Data Risk Management Evaluation and Control software at a cost not to exceed $38,695; entering an agreement with U.S. Bank for the County's P-Card Program through the Wisconsin Public Sector Consortium Commercial Card Program.


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