Fort City Council Approves Dump Truck Loans and Street Repairs | Fort Atkinson
Fort Atkinson City Council on Tuesday approved two separate loans to purchase public works equipment and complete street improvements in 2021.
Meeting remotely via Zoom, board members voted unanimously, by roll call, to approve a PremierBank quote for a 10-year loan of up to $ 675,000, at a fixed interest rate. 1.55%, to perform street repairs for Industrial Drive and Summit Drive.
In addition, the board voted unanimously to approve a quote from PremierBank for a two-year loan of up to $ 235,000, at a fixed rate of 1.05%, for the purchase of a truck. -tandem axle bucket with a straight plow and a sander.
Prepayment of loans can be made at any time without penalty.
Michelle Ebbert, City Clerk / Treasurer / Director of Finance, said at the February 2 council meeting she was authorized to seek loan terms for two projects this year: public works equipment and l improvement of streets for industrial and summit training.
“Interest rates are favorable for borrowing, and locking in rates now would be beneficial,” Ebbert advised.
The city’s 2021 capital improvement program, she noted, includes the purchase of a tandem-axle dump truck with a straight plow and sander.
On February 3, she said, she contacted three local banks and provided them with the loan specifications.
“Three local banks provided the terms of the loan in the form of two separate loans: Badger Bank, Johnson Bank and PremierBank,” Ebbert said. “Plus, I was able to research the state trust fund loan to see their interest rate.
“The good news is that the interest rates were incredibly low,” she added. “The bad news is that the specs of the truck are a bit higher than we expected.”
PremierBank, she said, provided the lowest interest rate, which was “favorable” at 1.05 percent for the city’s initial loan request of $ 200,000. However, preliminary estimates for the truck were $ 225,000, according to Tom Williamson, superintendent of the Department of Public Works.
“I wanted to know if the bank would honor a higher amount, and I heard from President (Russell) Turk today and he said PremierBank would be willing to honor a loan of up to $ 235,000 in the same interest rate they originally provided at 1.05 percent, “Ebbert said.” So in that regard, that’s great news.
“Once the (final) offers for the truck are received, they will be presented to council for approval,” she said. “We were just trying to get rough numbers ahead of the meeting tonight (Tuesday).”
Chairman of the Board, Mason Becker, said: “I’m never a fan of borrowing too much, but it seems very measured and it’s great that we are taking advantage of these very low rates, so it’s good to see. . “
Member Paul Kotz added: “It’s nice to see a local bank stepping up and being more than fair to the city at least in a few cases, so it’s also very encouraging.
Regarding street repair and improvement, the city clerk / treasurer said Industrial Drive and Summit Drive are “some of our busiest areas with bigger trucks.”
“In April 2020, we received notification of an MLS (Multimodal Local Supplement) state grant to help repair two streets for industrial use,” Ebbert said, noting that the grant amounts to slightly less of $ 388,000. “The remainder of the funds for the improvements will be the loan not to exceed $ 675,000.”
Becker said street work is critically important because “these streets, frankly, haven’t been maintained for a good number of years, and they are linked to so many of our major employers in our city. So, I am happy that we are going to move forward with this work. At least some of it is covered by the grant, so that’s good.
Town engineer Andy Selle said: “This is another phenomenal opportunity for us with these (low) rates.”
The Town Clerk / Treasurer noted that the Town of Fort Atkinson is in a very strong financial position.
“We have an excellent rating by Standard & Poor’s of Aa3 and a strong fund balance which in turn establishes a reliable basis for favorable interest rates,” Ebbert said. “Having low rates strengthens our stability to maintain services and focus on improvements. “
Water slide pump upgrade
Also on Tuesday, the board approved a quote from Carrico Aquatic Resources Inc., Jefferson, for the replacement of a slide pump at Fort Atkinson Aquatic Center for $ 11,526 with installation not exceeding $ 3,500.
Brooke Franseen, the city’s director of parks and recreation, said the aqua center has a 175-foot slide operated by a slide pump.
“This pump has never been replaced and is the original pump from 1992,” said Franseen. “The lifespan of slide pumps is 25 to 30 years. “
The current waterslide’s motor / pump is rated at 1,425 gallons per minute, she said, noting that this was done by the pool designer with the idea that the city could add another waterslide. at the tower at a later date.
“Our aquatic center runs a pump that is much larger than necessary, reducing the pump’s output,” said Franseen, adding that the staff had no plans to add another slide to the tower. “To save the city money on new equipment and energy in the long run, the new pump will be rated at 900 GPM, which is labeled on the pipe that feeds the slide. “
The director said that $ 13,000 has been budgeted in the Aquatic Center capital expenditure for this project and the remaining $ 2,026 will come from the Aquatic Center supplies / maintenance account.
“The cost of installation would depend on the alignment of the new pump with the old pump in terms of plumbing and valve location,” Franseen said.
Additionally, council members approved that council chairman Becker proclaim Saturday May 8 World Migratory Bird Day in the town of Fort Atkinson with the theme “Sing, Fly, Like a Bird”.
Every year since 2016, Fort Atkinson has recognized the second Saturday in May as World Migratory Bird Day as part of the city’s “Bird City” designation.
“World Migratory Bird Day encourages citizens to celebrate the beauty of migratory birds and to support efforts to protect and conserve them and their habitats in our community and the world at large,” said the new director. municipal Rebecca Houseman LeMire.