City refinancing bonds, to save $250,000; New roof sought for Bluff Springs

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March 15, 2013

City refinancing bonds, to save $250,000; New roof sought for Bluff Springs

By Leslie N. Dees CNHI The Star Herald Fri Mar 15, 2013, 09:00 AM CDT

KOSCIUSKO — The City of Kosciusko has plans in the works to save approximately $250,000 by refinancing the street paving/park improvements bond from 2008 and funds owed on the Kosciusko Fire Department from 2005.

During the March 5 meeting, resolutions including the hiring of Butler Snow, Duncan Williams, George Dorrill and Government Consultants for work on the project; execution of the bond; and signature authority to Cockroft.

Representative from Butler Snow told the board that the estimated savings does not include the paying of the professionals on the project but that gains would be significant for the city.

During this fiscal year, the representative projected $100,000 would be saved on the fire station loan.

New roof

“We have been asked by Bluff Springs Paper to apply for funding to put a roof on the building that they occupy on Knox Road,” Mayor Jimmy Cockroft said. “The amount there (on the resolution) says not to exceed $700,000. We do not anticipate it being near that much. You are only charged with what you end up borrowing.”

He explained that since the City of Kosciusko owned the building, they would need to apply for the funding in the CAP loan process but Bluff Springs would pay back the funds.

The board approved the resolution which is the first step in the process. A public notice must run in The Star-Herald for four weeks and a public hearing is set for April 16.

“Also, we are going to try for a rural impact grant to help with jobs there,” Cockroft said. “If anyone is adding something right now (in Kosciusko), I’m trying to help them all I can.”

The board approved the following:

–Administrative contract for Sample & Hicks in the amount of $2,500 to do paper work on the CAP loan.

–Payment to Belinda Stewart Architects in the amount of $1,246.16 for work on The Strand.

–Purchase an aerator from Industrial Electric for $6,500 for the waste water department.

–Travel for Kosciusko Police Department’s Pete Belk to attend training April 22-25.

–Claims docket

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City refinancing bonds, to save $250,000; New roof sought for Bluff Springs

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