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Council to address infrastructure funds

October 6, 2012
By BILL SHEA, bshea@messengernews.net , Messenger News

The Fort Dodge City Council is scheduled to take action on financing infrastructure improvement projects related to the North Central Ag Industrial Park when it meets Monday.

The council will meet at 6 p.m. in the Municipal Building, 819 First Ave. N.

During that meeting, the elected officials will move to borrow $18.4 million from a state low interest loan program to pay for water system improvements.

Officials had planned to take that action a month or two ago, but the delay is now apparently going to enable the city to get an even lower interest rate.

''By doing it as we are now, we're actually getting a more favorable interest rate,'' said Jeff Nemmers, the city clerk and finance director.

Nemmers said he didn't yet know exactly what that interest rate will be.

The council is also expected to declare the city's intent to borrow money to install oversized water and sanitary sewer lines to serve the CJ Bio America plant and the rest of the Ag Industrial Park.

Under a previously approved agreement, the company and the Webster County government will reimburse the city for the cost of those lines.

''Essentially, we're floating the money and getting reimbursed,'' Nemmers said. ''The city is really out nothing.''

The city will borrow up to $350,000 for the oversized water lines and up to $1 million for the oversized sanitary sewer lines.

Following the regular business meeting, the council will hold a workshop discussion on burying the power lines along First Avenue South between Veterans Bridge and 29th Street. That project is expected to begin this spring.

 
 

 

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