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Malcolm trustees agree to front $182,000 for ballfield lighting; one trustee objects
Summary
Trustees voted 4-1 to have the village pay a $182,000 Musco Lighting invoice for ballfield lights with a requirement that the Legion repay the village within six months plus 2% lease interest above Cattle National Bank's rate.
The Village of Malcolm Board of Trustees voted 4-1 on Sept. 18 to pay a $182,000 Musco Lighting invoice for new ballfield lights while Legion parents pursue grants and donations to reimburse the village.
Trustee Little moved that the Village pay the $182,000 bill with a condition that the amount be repaid to the Village within six months and that the Legion pay 2% lease interest over the rate Cattle National Bank would charge. Trustee Tarr seconded the motion. The board approved the motion 4-1; Trustee Faubion cast the lone dissenting vote.
Why it matters: The village's agreement to temporarily cover a large capital bill exposes municipal cash flows to repayment risk but supports a community recreation project used by local youth programs. The board framed the action as short-term bridge financing pending external funds.
Details: The request came from Legion parents seeking help to cover the Musco Lighting invoice while grant funds and private donations are finalized. The motion set a six-month repayment limit and a 2% lease interest margin above the rate of Cattle National Bank. Trustee Faubion opposed the motion; the transcript does not record his stated reasons.
Next steps: The board approved payment of the Musco Lighting invoice; the motion includes a time-limited repayment requirement. The meeting record does not specify whether a formal loan agreement will be executed or how the village will secure repayment if donors or grants fall through.
