The Winona Lake Town Council approved a bond ordinance for Grace College at its April 21 meeting.

The ordinance was originally introduced at the council’s March meeting.

Ordinance 2015A-3-1 will allow the school to refinance three bonds previously issued for school projects. The ordinance authorizes $11.5 million for the school.

Alan Feldbaum, an attorney with Barnes and Thornburg representing Grace College, explained Grace College recognized an opportunity to save a significant amount of money by refinancing these bonds. The school wanted to move quickly as to complete the refinancing measures before the end of the fiscal year. Feldbaum said the refinancing could save the school 15 to 25 percent by refinancing.

The council approved 2015A-3-1. Feldbaum reported that 1st Source Bank would be buying the bonds. The school may ask for an additional bond ordinance (which would be series 2015B) later this year for the purpose of financing a yet-announced project.

Street Superintendent Tom Miller and Town Coordinator Craig Allebach discussed a tree project in the park. There are 18 trees, five “standing logs” and 60 stumps that need to be removed and new trees planted. Miller said he had solicited quotes and Clay’s Tree Service quoted roughly $12,000 for removal.

Allebach said he was discussing stump removal with a private citizen, so the town my be able to save some money on removal by employing him. The council authorized Miller to go ahead with the project without exceeding a price of $12,000.

Allebach went on to explain replanting would occur during the month of May in three phases. Early in May, 17 trees would be planted on the north side of the park. Trees would be planted around the town hall in the middle of the month, and tree would be planted on the south side of the park. An Arbor Day celebration is planned for May 30 to correspond with the completion of the tree project.

Winona Lake Fire Chief Mitch Titus reported that the fire department was finished with insurance claims on damaged equipment from the Warsaw Chemical fire. Titus reported that WLFD was just $1,500 shy of total replacement. However, the process of filing claims made the town decide to switch insurance providers.

The town sought quotes, and opted to go with Hall and Marose Silveus. HMS was able to offer the fire department more coverage with a lower premium. HMS also took over management of all of Winona Lake’s insurance policies.

The council approved a board appointment. Ken Nisly, Winona Lake Restoration, was appointed to fill the vacant seat on the board of zoning and appeals left by the passing of Dr. Dane Miller.