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Early council adopts water-bond interest reduction and approves small change order for 2nd Street water-main
Summary
Council adopted Resolution 21-20 to reduce the interest rate on a water revenue bond and approved a $5,719.44 change order for the 2nd Street water-main project to be paid from contingency; the meeting record also shows substantial invoices for water projects in the bills list.
At the Oct. 5 meeting the Early City Council adopted Resolution 21-20, which provides for a reduction of the interest rate on a water revenue bond. Councilor Bill Cougill offered the resolution, seconded by Councilor Brian Pickhinke; roll-call vote: Pickhinke, Cougill and Tim Langner — ayes. Mayor Sharon Ann Irwin declared the resolution adopted.
The council also approved a second-street water-main change order increasing the project cost by $5,719.44, with the additional amount to come from the project contingency. The change order was approved on a roll-call vote with Pickhinke, Cougill and Langner voting to approve.
The meeting's bill list includes larger water- and construction-related invoices that appear connected to ongoing water-system work: Bolton & Menk, Inc. invoices for water construction and services; John T Jones Construction invoices for the water treatment facility; and a $64,949.54 line for "2ND ST WATERMAIN" to Schmitt Construction. The minutes show multiple entries under the water utility and water sinking funds.
Why this matters: adopting a lower interest rate on a water revenue bond can reduce the city's debt service costs; approving a change order and processing large contractor invoices shows active construction and maintenance on the city's water infrastructure.
Next steps: the minutes do not record additional financing steps or a public hearing on bond terms; further financing or construction updates would be expected in subsequent council records.
