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Pawnee City council approves $185,000 loan for water meter replacement
Summary
The Pawnee City Council approved a five-year $185,000 loan from Union Bank & Trust at 5.25% to fund a water meter replacement project, with annual payments of $42,144; auditors noted the utility fund must cover its own expenses.
The Pawnee City Council voted unanimously Aug. 25 to accept a $185,000 loan from Union Bank & Trust to finance a citywide water meter replacement project.
City Auditor Julie Bauman told council members that the water utility fund needs to remain self-sustaining and that several large utility payments are upcoming, which informed debate over whether to use reserves or borrow. Clerk Tamela Curtis noted the city holds funds in an interest-bearing NFIT account and that the city might be able to make extra payments on the loan.
Council Member Susan Eisenhauer moved to accept the Union Bank & Trust loan at 5.25% amortized over five years with annual payments of $42,144; Council Member Vickie Zelenka seconded. A roll-call vote recorded all present voting in favor.
Why it matters: Replacing aging meters can improve billing accuracy and water-system management, but the financing decision affects the utility fund’s cash flow and future capital planning.
What happens next: The loan was approved and staff will finalize loan documents and begin procurement and scheduling for meter replacement work.
