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Edmore council creates restricted water-tower fund, approves repainting
Summary
The Edmore Village Council approved repainting the water tower and created a Restricted Water Tower Fund seeded with $200,000 to pay for future replacement, with annual transfers proposed from cannabis retail tax revenue.
The Edmore Village Council voted July 14 to repaint its water tower and to create a restricted fund to begin saving for the structure's eventual replacement.
The council approved a $43,744 price to repaint the tower and a separate motion to establish a Restricted Water Tower Fund with a $200,000 initial deposit. The repaint motion passed on a 6-1 roll-call vote; Council President Chet Guild was the lone no vote. The fund creation passed unanimously, 7-0.
Treasurer Shirley Drain told the council she would like the new restricted account to be seeded with $200,000 and for $50,000 to $60,000 a year of retail cannabis tax receipts to be transferred into it going forward. Council member McParland made the motion to create the restricted fund; Moore seconded it.
Council members discussed cost drivers for repainting, noting the $43,744 figure covers design work and the coatings required to cover existing paint. The council voted to repaint the tower and keep the existing color and lettering; changing colors or designs would have carried the same base price under the contractor's estimate.
The move to establish a dedicated sinking fund is intended to spread the long-term cost of a future tower replacement over multiple budget years and to set aside cannabis tax revenue for that purpose. No timeline for replacement was established at the meeting.
What happens next: the village will proceed with repainting according to the approved scope and will open the restricted account with the agreed $200,000 seed transfer.
