The Boyd Village Board held a special meeting on June 17 at the Village Hall to discuss sewer utility finances, the Patten Street Reconstruction Project, and budget-related matters.

One of the primary topics was the financial future of the village’s sewer utility. Residents of Boyd will soon see increases in sewer rates similar to those recently implemented in neighboring cities.

Village President Bob Geist proposed increasing the monthly sewer service charge from $32 to $47 and raising the volume charge from $11.30 to $11.55 per 1,000 gallons of usage. During discussion, Geist recommended that the board address the increase all at once, stating that it would be best to “do it all this year and be done with it.”

The proposed adjustment represents a 25.75% increase in the monthly sewer service charge.

Board members generally supported the proposal. Trustee Michael Eslinger expressed support for increasing the service fee portion of the bill, while Trustee Eric Pilgrim agreed, saying, “Seems like the only guaranteed way to get your money.”

Public Works Director Bob Lamarche noted that a similar approach had been used in the past.

“That’s kind of what they did when the sewer plant was built and it seemed to work,” Lamarche mentioned.

Trustee Dale Issacs also voiced support for the proposal, stating, “I like the idea of putting it on the sewer fees.”

Following discussion, the board approved the increase to the monthly sewer charge and the adjustment to the volume rate.

Patten Street Funds & Budget

The board also reviewed financing options for costs associated with the Patten Street Reconstruction Project that were not covered by grants awarded to the village. After discussion, trustees approved a financing package through Northwestern Bank with a 5.75% interest rate, a 20-year amortization schedule, and a five-year term. The financing is expected to carry annual payments of approximately $42,712, with an estimated balance of $421,688 remaining at the end of the term.

During the discussion, Geist reminded board members that referendum funds had been established for projects such as this.

Trustee Dale Issacs supported the financing proposal, stating, “It’s the best option for the village in my opinion.”

In other news

In other business, the board approved AMKO Advisors as the municipal advisor for the Village of Boyd. The firm will provide municipal advisory services to assist the village with financing matters.