Etna Green Discusses Sewer Bonds
ETNA GREEN — The Etna Green Town Council met at 7 p.m. Tuesday, April 12, to discuss sewer bonds, power adjustments and master keys.
Pooja Sheresta from Umbaugh was present to introduce ordinance 2016-02 to refund the current sewer bonds 2000A and 2000B. The total savings would be $83,000. The town will use Piper Jaffrey for the underwriter. First Merchants Bank has given an offer to purchase the bonds at 3.5 percent of the current bond rates are 4.5 percent. If the town would place the debt reserve account with First Merchants until the bonds are paid off they offer a rate of 3.4 percent.
Ordinance 2016-02 to refinance the sewer bonds 2000A and 2000B were approved. Umbaugh will proceed with the refinancing process; closing will be in about 30-45 days.
The transfer of the debt reserve fund in the amount of $47,024.52 to First Merchants Bank from IAB Financial contingent on their purchase of the bonds was approved.
Matthew Hefner is a member of Community Destination Imagination and will attend the global competition in Knoxville, Tenn., in May. Hefner gave a presentation on what Destination Imagination represents. There are nine local students, two from Etna Green, participating this year. The cost is $800 each. There are two sponsors attending with the students. $1,100 for Designation Imagination to attend globals was approved.
Slabaugh noted there is a need to realign the distribution and use of the master key. The file/storage room door access will be removed from the master key. File/storage room door access will be on the office key only. A new shop key will be made for use of the backhoe bay area for fish fries etc. The shop key will be issued along with a park key for the park building access and will be turned in when building use is complete. There will be a code issued with the shop key that will only be activated when the key issued. The master key is for town employees only.
In other business:
- Payment for accounts payable vouchers in the amount of $173,502 was approved.
- Clerk-Treasurer Laura Baker presented the power cost adjustment review contract from Sawvel and Associates to be charged from quarterly with Umbaugh to semi-annual review with Sawvel.
- Lions Club member Todd Hoffer asked permission for the Lions to place the lettering “Heritage Park Community Building” with the Lions Club symbol on the front of the community building. The lettering would be metal with white powder coating to match the lettering on the museum. The Lions will fund the project. It was approved.
- Todd Hoffer also announced the Randy Miner Memorial Run will be at Heritage Park June 11. There will be town wide garage sales; pancake and sausage breakfast sponsored by the volunteer fire department. Hoffer would like to make this an all-day community event. Hoffer would like to add a car show but cannot find anyone to host it.
- Hefner also mentioned that they would like to host a car wash at Remembrance Park and a community dinner at Heritage Park for fund raisers.
- Town employee Andy Cook presented street paving quotes from Niblock and Mann’s. Quotes from Niblock for Pleasant Street to SR 19, $7,445 and Pearl Street from railroad tracks to SR 19, $17,493 for a total of $24,938 to be paid from MVH, LRS and CCI and EDIT funds was approved.
- The trailer on the property owned by KS & F at 219 N Walnut is almost complete with the removal. The property owners have been in contact with the clerk’s office on the process of disconnecting the utilities from the property