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Silver Lake council approves contract, transfers and bond authorization to fund Harriett Road reconstruction
Summary
Council unanimously approved a contract with Karvo Companies, fund transfers and a bond resolution to pay for the Harriett Road pavement reconstruction and sidewalk project. Officials said Baird will solicit proposals to structure the bond sale; a preconstruction meeting will set the project's start date.
The Village of Silver Lake Council on June 16 unanimously approved a package of measures to pay for the 2025 Harriett Road pavement reconstruction and sidewalk project, including a contract award, appropriation transfers and a bond authorization.
Finance and Appropriations chair Suzanne Garrett presented Ordinance 44 authorizing the mayor to enter into a contract with Karvo Companies, Inc. to complete paving, grading, curb work, concrete sidewalks, driveway approaches, storm sewers and water-main work on Harriett Road. The council suspended the rules and adopted the ordinance by roll call (Yes 7, No 0).
Clerk-Treasurer Sean Housley explained that updated engineering estimates and bid results required changes to previously approved transfers. Ordinance 46 amends prior transfers by moving $45,000 from the General Fund (1001) to the Accrued Liabilities Fund (1002) and up to $181,783.90 from the General Fund to the OPWC Street Reconstruction Fund (2061) to cover the Harriett Road work; council adopted the measure unanimously.
To finance part of the project, the council adopted Resolution 47, authorizing the issuance and sale of bonds in a maximum principal amount of $534,000. Housley said the village’s financial advisor, Baird, will solicit proposals and evaluate repayment options and interest rates before negotiating the sale. Council also adopted Ordinance 48 to amend 2025 appropriations so prior-year and current expenses for ongoing projects are properly covered.
Mayor Dunphy said that in evaluating contractor bids the village considers price along with experience, reputation and adherence to the village’s bid procedures. Engineer Jason Popiel said a preconstruction meeting will set a firm start date for Harriett Road now that the contract has been awarded.
All measures related to the Harriett Road package passed on votes recorded as Yes 7, No 0. The council’s next steps are the preconstruction meeting and the bond-sale process managed by Baird.
