Washington City Council looks at bond issues

Local News

Discussion

May 11, 2009

By Nate Smith, Staff Writer The Washington Times-Herald Mon May 11, 2009, 09:58 PM EDT

In a relatively quiet Washington City Council meeting Monday, the council approved revising an ordinance that would find a better suitor for upcoming sewer bonds.

The council approved 6-0 in a suspended reading to amend a previous bond ordinance that would “give more flexibility,” according to bond accountants. Council member Allen Brown was absent.

In February, the council had read a bond ordinance but did not get a favorable rate on its bonds worth $2.75 million and decided to have another sale.

Bond financiers Sue Beesley with the law firm of Bingham McHale and James Higgins with the London Witte group told council members that if the city improves its ordinance in three areas, they should get a more favorable rate of interest.

Those areas were allowing a 2 percent discount, increasing the maturation of the bonds from 20 to 22 years and allowing refunding in 10 years instead of 12.

Higgins told council members that if the city allowed the two percent discount, they would not get a high interest rate tacked on at the beginning.

“(The discount) will help take care of the people selling you the bonds,” Higgins said.

Higgins also said increasing the maturation years will allow for level payments by the city and the refunding is another incentive to keep rates low.

Both Higgins and Beesley have been working with local banks and investors on interest in the city’s bond sale to begin May 21. The sale is open to the public and should be closed by May 29.

In other sewer news, Mayor Larry Haag announced there will be a press conference today on the city’s work to help low-level flooding. The city has built terraces at its two retaining ponds that help limit the flow of water going through the city and into the White River. Wastewater Superintendent Scott Rainey said his department has not had a call about a flooded basement this spring.

In other business:

TRANSIT RESOLUTION

The council unanimously voted on an annual resolution to allow Haag to apply for federal funds for the city’s transit system. Chuck Martindale with INDOT said the city is looking for 70 percent of its funding to go through state and federal funds. The city, which has been getting federal help since 1981, averages 50 to 52 passengers a day on its bus.

BANK ROBBERIES

Police Chief Steve Riney briefed council members and lauded his squad after a bank robber tried to rob both the Old National Bank and Crane Federal bank branches Friday. Riney said the suspect was identified within 90 minutes of the robbery and Butcher was arrested within 24 hours of the crime.

Riney applauded the cooperation the city received from both the county and state police in apprehending Butcher.

“I think everyone did a good job,” Riney said.

METER ORDINANCES

The council unanimously passed on a final reading two ordinances for water and electric meter reading. If a meter reader cannot read a meter, a letter is sent giving the homeowner 30 days to remedy the problem — dogs, locked gates, bushes — before the water or electricity is turned off.

LIBRARY CARNIVAL

The council and later the Board of Public Works and Safety, allowed the closing of N.W. Third Street from Main to VanTrees on June 6 for a street carnival hosted by the Carnegie Public Library. Lori Osmon, youth librarian, said the carnival is to jump start its summer reading program and get more youth involved.

Text Only

Local News

Hill arrested on $100K bond
Andrew Logan Hill, 32, Washington, was arrested by sheriff’s deputies on a warrant for petition to revoke a suspended sentence. He remains in the Daviess County Security Center on a $100,000 bond.

May 26, 2012
Cemetery owners plead for time, help
For nearly a century and a half, Daviess County folks have been laid to rest in Oak Grove Cemetery at the west edge of Washington, but in recent years maintenance of the 23-acre property has declined and people are no longer wanting to bury family members there.

May 26, 2012 1 Photo
Washington High School to graduate 167 Saturday
Washington High School will hold its 135th Commencement Exercises at 2 p.m. today in the high school gymnasium.

May 26, 2012
WC to graduate
Washington Catholic High School Commencement Exercises will be held at 8 p.m. today at the Bird Cage.

May 25, 2012
PC to graduate
PETERSBURG — Pike Central High School will hold its 37th Commencement Exercises at 7:30 p.m. Friday in the high school gymnasium.

May 25, 2012
ND commencement is Friday evening
North Daviess High School will hold it commencement exercises at 7 p.m. Friday.
Following the processional led by North Daviess faculty and juniors Janice Knepp and Cari Jo Wilson, the voluntary invocation will be led by Chelsea Graber. Stacey Beard, class president, will then make welcoming and introductory remarks.

May 24, 2012
Fire destroys home in minutes
A Tuesday afternoon fire in rural Daviess County has left a family homeless, although unharmed.

May 23, 2012 1 Photo
Barr-Reeve holds 47th commencement Saturday
Barr-Reeve High School will hold its 47th Commencement Exercises on Saturday afternoon in the high school gymnasium beginning at 2 p.m. Again this year, the graduation will be an afternoon affair.

May 23, 2012
Loogootee to hold graduation Friday
Loogootee Junior/Senior High School Class of 2012 will hold its graduation exercises at 7 p.m. Friday.

May 22, 2012
ND finds ways to use cell phones
A lengthy discussion between North Daviess school board and administrative members concerning future student cell phone usage dominated the board’s Monday meeting.
Board members were considering a second reading for the school’s junior and senior high school handbooks when the discussion began.

May 22, 2012
More Local News Headlines

Local News

Search Results

Discussion

Washington City Council looks at bond issues

Should students who fail IREAD-3 (twice) advance to 4th grade?

Site Map

Contact Us