Sheldon, Iowa — The Sheldon City Council has decided to consolidate the City funds with Northwestern Bank. At the present time the city has 17 accounts in three banks and they asked all four banks and the credit union located within the city limits for proposals to handle the bulk of the deposits in one bank. The proposal from People’s Bank was also considered, but the interest generated at Peoples would vary with the 91 day Treasury Bill rate. After considerable discussion the Council voted to accept the offer of a five year guarantee of 2.25 percent from Northwestern Bank. Although the total could be as low as 4 to 5 million dollars, normally the total on deposit is within the seven to nine million dollar range. At 2.25 percent, seven million dollars on deposit will yield $157,000 annually in interest for the City. It is expected that it will take some time to switch the many city accounts over to the new system.
In other business, the Council tabled discussion on the consolidation of the two unions representing city employees until their next meeting which will be held August 7th. Preston De Boer representing the unions told the council that the two unions were organized at separate times. Since at that time the numbers in both unions has declined. De Boer said the most efficient way to proceed for the city would be to file a petition with stipulation of the wording by the City Council. With this method he felt the change would be made in time for negotiations this fall. During the discussion council member Brad Hindt voiced the opinion that the union members should make such a request, not the council.
De Boer mentioned that all the employees in both unions are in support of the merger. But, the council felt they needed more time and information from legal council before they would make a decision.
In other action, the council heard the annual report from O’Brien County Economic Development. Kiana Johnson highlighted some of the partnerships that county organization has with Sheldon. This included the third annual O’Brien County Career Day, the Homecoming Scholarship program, and Revolving Loan Fund. Over the years these programs have totaled over four million dollars for businesses throughout O’Brien County, including more than one million dollars in loans to businesses in Sheldon. Johnson said that O’Brien County Tourism has been active on several fronts and is starting to create a new website to promote tourism in the county.
The council also heard a report from Public Works Director Todd Uhl that 30 percent of the city’s waste water is now being processed in the new waste water facility, with the facility increasing to one hundred percent sometime next week. Uhl also reported that a firm hired by the city has run a camera through the sewer line on 11th street from 5th avenue to Washington Avenue. He says the next step is cutting weed roots that may have grown into the sewer.
