Village approved bond sale, repairing streets, sewer, parks, public grounds

By Mary Ann Inman
REPORTER
Village President, Connie Tracy called the meeting to order on Monday, Feb. 20, at 7 p.m. Board Trustees present were: Ron Torkilson, Art Bushue, Dennis Nielson, Jeanette Troha, Dina Knibbs, and Administrator/Police Chief Dave Hooker.
Absent was Sonja Capes. Village Engineer Tim Kien-baum, Treasurer Clerk Pam Franseen, and Jon Cameron of Ehlers were present.
President Tracy read two cards thanking village per-sonnel from the family of Phil Brown and the Owner of the Old Junior High School.
Jon Cameron was moved up on the agenda along with eight resolutions requesting approved action after discussion.
Cameron asked for resolution approvals for the pre-sale of reports for $1,450,000 General Obliga-tion Corporate Purpose Bonds, Series 2017 A and pre-sale report for $1,055,000 Water System Revenue Bonds, Series 2017B.
Cameron explained 20-year term refinance plan within 90 days for sale of bonds. There will be multiple bidders desiring to underwrite at lower interest rates.
The sale has to be truth-ful and cannot be used for other purposes as laid out by disclosure for street and sewer repairs.
Projected tax rate for debt service impact for 2017 $.63 per $1,000 notching up to a maximum of $1.03 by 2023 then gradually declining down to $.68 in 2028. Debt will move from 17 percent in 2017 to 42 percent of the annual budget.
The timeline for action in 2017 is as follows: Pre-sale Feb. 20, distribute official statement about March 10, Village Board approval to award sale of bonds March 21, estimated closing date April 13.
There were no committee reports other than Public Safety. Police Chief Dave Hooker said 120 police re-ports have been filed so far this year compared to a total of 285 in 2016. There have been a couple of thefts and nine OWI’s.
The public school has called in more frequently. Hooker wanted the public to know that his police force is not looking for infractions but will address needs as they arise. Many receive warnings for

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