Sheldon Gets Low Interest for Projects and 6 o’clock Siren Stays
Date posted - May 2, 2013
The Sheldon City Council is taking advantage of the current low interest rates to finance the Sheldon Crossing infrastructure, Downtown infrastructure renovation, the new deep well and other projects. At their Wednesday meeting the council approved the purchase of general obligation capital loan notes in the amount of five million, three hundred fifty thousand dollars at an average interest rate of 1.26 percent. When all the costs are taken into account there is a true interest rate of 1.51 percent. It was noted that the City has an ‘A Plus’ rating from the Standard and Poor’s rating service. The final payment on these notes will be made in 2024.
In other action the council approved a request from the Airport Board to adopt an airport zoning ordinance which would prohibit tall buildings from being built adjacent to the airport. They also gave their approval to a contract with Tri-State Paving of Estherville for the Country Club Road and 9th Street project. Their winning bid of $391,982 was ninety three thousand dollars below the engineer’s estimate. They also set May 15th as the date for the bid letting on the Highway 18 improvements.
The sounding of the city sirens at six p.m. was also on the agenda. Council member Brad Hindt had asked for this to be brought up for discussion because several people had asked him if this is really necessary. At Wednesday’s meeting Hindt told the council that after news reports about his concerns, many people had contacted him and said the practice should be continued. One of the reasons given was that it reminded their youngsters to come home for the evening meal. Hindt said that Sheldon is the town where ‘families come first’, and this should be respected. Ron Rensink also reported that he had people ask why the practice should be stopped. The item was dropped with no further discussion. Water was also a topic Wednesday, and we’ll have details on our weekend news reports.
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