"At least a minimum of five," Village Trustee Sarah McQuillan said of the rate she wanted to see on a sewer bond to approve the parameter motion before the board Monday May 10. Said motion, …
"At least a minimum of five," Village Trustee
Sarah McQuillan said of the rate she wanted to see on a sewer bond to approve the parameter motion before the board Monday May 10. Said motion, advanced by Mark Deraney, of AMKO Advisors out of Fargo, North Dakota, would allow the president and clerk of the village to approve issuing a sewer bond without convening the board. Parameters if approved would authorize up to $1.4 million with 3.75 percent as maximum interest charge. The parameters resolution, Deraney said, helped to give leeway in negotiating the bond, and was generally "good for six months," he told the board.
“Do we have a bond
rating?" McQuillan next asked. "We can get a rating, but I don't recommend it,"
Deraney said in reply. Such ratings cost money, and unless it was BBB or higher—this being investment grade—a rating could just cost the village some $15,000 without any benefit, the
AMKO Advisor said.
“Again, we only put these parameters in to
give us enough leeway to work with it all," he
said. The decision to look at the bond market came after Deraney was quoted a number by a bank he didn’t like—the market could do better. That’s when McQuillan stepped up the rate try.
"At least a minimum of five," she said
of percent on the sewer bond. With motion by McQuillan seconded by Krizan the time was up for a vote. That was President Geist’s announcement.
"Alright," he said. "Motion's been
made by McQuillan, seconded by Krizan.
Sandi, will you please read the roll?"
Clerk Sandi Isaacs read the names.
"Gwen?" the Clerk asked.
"Yes" came Trustee Krizan's vote.
Sarah?" "Yes," Trustee McQuillan said.
"Casey?" "Yes," Trustee Dorn replied.
"Bob?" "Yes," said the Village President.
The motion for a parameters resolution
setting interest at a minimum of five percent passing, it was on to discussion of the fire board
meeting from two weeks ago. There was still discussion on the proposed ordinance change for Boyd to take out the collection ceiling of $1,000 on fire calls. Geist said the plan was to do more
investigating and see what other communities do. With no Boyd business development to update (last year a business on Murray Street did build an addition), it was into talk of the Board of Review, set for June 8th from 5:30 to 7:30
See SEWER BOND, Page 7
The Boyd Village board listened May 10 as Mark Deraney of AMKO Advisors spoke. From left: Sarah McQuillan, Bob Geist, Gwen Krizan and Casey Dorn. Not pictured but present is Clerk Sandi Isaacs.
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p.m., at the village hall.
"Nobody will be here," Geist predicted for the tax review. With that, it was into Ringelspiel. Good to go, Trustee Casey Dorn reported, with posters out and the annual Lotz Park Festival back this year after a COVID hiatus, taking place from May 28 through the 30th this year, on the east side of town.
Also included in the annual Ringelspiel preparations, meanwhile, were two resolutions: "one for the picnic" at the park, the other for the Sunday parade.
As to the parade and Ringelspiel street closings (one for rides), these will be on Patten from Reynolds to Oshkosh and on Webster from Patten to Murray. Last but not least, there was a park bin update.
"Side note," Geist said. "Chippewa County Recycling called." They were going to be delivering dual recycling and garbage bins to the park, with no cost to the village and pickup handled by Waste Management.