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SHERIDAN — Sheridan County Airport will be able to construct eight new aircraft hangars and a self-fueling station for AvGas after the Board of County Commissioners approved the issue of revenue bonds in the principal amount of $2,630,000 at its regular meeting Tuesday.
Funds from the bonds will also be used to pay off 2005 revenue bonds that were used to construct seven new hangars that year.
“We got better interest rates, so it behooves us to go ahead and retire those bonds, saving about $65,000 on those old bonds and giving us some new funds to construct the new hangars,” Airport Manager John Stopka said following the meeting.
The airport currently has 47 hangars rented, with 12 people on a waiting list, Stopka said. The Sheridan airport has the highest number of based aircraft in Wyoming.
“We’re pushing that hundred mark on aircraft based at the airport,” Stopka said.
According to Daniel Baxter, managing director for Kaiser and Company, the airport received strong bond subscriptions from area banks in support of the bond issue. The fixed interest rate on the new bonds is 2.61 percent, which is significantly lower than the 4.6 percent interest rate on the county’s 2005 airport revenue bonds.
The airport also received approval to renew its lease agreement with Great Lakes Aviation. The air service provider’s lease had expired May 1.
The lease agreement is for another six years. The lease covers space in the terminal building, office space, baggage space, security space and landing fees.
“We do not subsidize Great Lakes to fly in, the federal government does not subsidize them. They are flying in here at risk,” Stopka said.
In other business:
• County commissioners approved a grant application to the State Aeronautics Division for a rehab project on the terminal parking lot at Sheridan County Airport.
The grant application is for $48,250, which the airport will match for a total project cost of $96,500.
Work will include seal coating, crack sealing and isolated removal and replacement of existing pavement.
• The airport received approval to give Advance Communication Technology an easement to install an underground telecommunication fiber line across the north end of airport property in order to reach Big Goose Road. The easement will stay inside the airport fence, preventing any future complications should Airport Road need any work.
• Bernie Bornong was reappointed to a three-year term on the County Planning and Zoning Commission to begin July 1. Dixie See and Gene Davis were reappointed to five-year terms on the board of trustees for Sheridan Memorial Hospital to begin July 1. Linda Thompson was reappointed to a three-year term on the library board to begin July 1.
• Commissioner Bob Rolston was appointed, effectively immediately, to represent Sheridan County on the Lake DeSmet Advisory Board.
In the transition of transferring ownership of Lake DeSmet to Johnson County, it was decided there would be an operating board for Johnson County and an advisory committee that would include a county commissioner from Sheridan and a Lower Clear Creek Irrigation District member.
“The whole idea is to be there as an advisory board to help them in the future, the vision, the marketing of the water and the whole process of doing the lake,” Rolston said. “I think it’s going really well. We’re moving forward.”