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City will finance Bois de Sioux golf course project; JPA informed of $1.305M cost
Summary
The Board learned the Bois de Sioux golf course project will be funded by the City (not bonds), the course will be charged 2% interest, and the total project cost is $1.305 million; City Finance approved the financing and City Council action is expected next week.
Fred Strege updated the board that the Bois de Sioux golf course project’s financing plan has changed: the City will pay for the project with its own funds instead of issuing bonds and will charge the Bois de Sioux Golf Course 2% interest.
Strege said the total project cost is now $1.305 million, including drainage and irrigation work. He reported that the City Finance meeting approved the financing unanimously and that the City Council is expected to consider it next Monday or Tuesday.
The report was informational to the JPA; no JPA action was recorded during the meeting.
