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Residents press board on dam repair timeline and contractor bonding as interest payment raises 2025 budget
Summary
Residents pressed the Cordry-Sweetwater Conservancy District board about contractor bonding, boat removal timelines and the financial impact of a newly issued bond; the board said 2025 will carry an interest-only payment of $82,864 and that contractors must complete the spillway work within 180 days after notice to proceed.
Mike Leavitt called the Cordry-Sweetwater Conservancy District board to order and introduced a discussion of the recent bond issuance and the planned spillway repairs.
Pat Sherman said the District deposited the new bond into a separate account and that the 2025 budget will include an interest-only payment of $82,864, with principal deferred until 2026. Sherman told the board the bond carries a favorable rate through the Indiana Bond Bank.
At the public-comment portion, Sharon Vankooten said she and other freeholders are worried about how cost-allocation changes would shift the tax burden and urged the board to verify assessment protocols; she also suggested using boat-decal revenue to reduce the certified levy. Vankooten referenced two Attorney General opinions (April 17, 1962; Dec. 28, 1967) in support of her review of assessment methods.
Residents raised multiple questions about the contractor selected for the spillway project. Cathie Brown and Jennifer Roll said they feared losing lake access next season if a contractor could not obtain the requested performance bond. Leavitt explained the board initially asked for a 150% bond but that the bid documents did not require it; the contractor is pursuing a 100% bond and bids remain valid for 60 days. Leavitt said the bid documents set a 180-day completion window after notice to proceed rather than a specific start date. Board members added that, if the lowest bidder cannot meet bonding requirements, the District would consider the next-lowest bidder and that bid bonds (usually 5% of the bid) can be forfeited if a contractor fails to perform.
Board members acknowledged the community’s concern about lake access and said staff will relay new scheduling information as soon as preconstruction meetings establish concrete dates. The board emphasized that the project must proceed to maintain dam safety and infrastructure.
The meeting record shows the board did not take a separate formal vote on procurement or contractor selection at this meeting; members described contingency funds in the bond to cover a potential higher next-lowest bidder.
