Council approves $4 million in general obligation bonds

Move questioned prior to approval, payable in December as city awaits grant reimbursement

Posted 4/12/26

The Stanley Common Council met Monday, April 6 in city hall. On the night’s meeting agenda were several items, including the borrowing of $4 million in general obligation bonds, a fire truck …

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Council approves $4 million in general obligation bonds

Move questioned prior to approval, payable in December as city awaits grant reimbursement

Posted

The Stanley Common Council met Monday, April 6 in city hall. On the night’s meeting agenda were several items, including the borrowing of $4 million in general obligation bonds, a fire truck discussion, termination of charter ordinance 2-2-3 related to the joining of the administrator-clerk-treasurer position, and much more. Much of the discussion took place in the committee of the whole meeting prior to council.
Starting with the $4 million general obligation bonds announced at prior meetings by Mayor Mike Henke, they are meant to pay for city projects as the city awaits grant reimbursement on several projects. The note from Huntington Bank carries an interest rate of approximately 4.25 percent and is structured with flexibility to allow for repayment or refinancing in December 2026. The funds will be used primarily for work tied to the West Business Park and Maple Street improvements, as well as other capital needs. The borrowing is designed to bridge timing gaps between city project expenses and incoming revenue sources such as grants, reimbursements and other funding streams. Some debt could remain long-term, with estimates of $1 or $1.5 million, or even nothing.
“If we don’t have anything crazy happen, we could potentially have no debt,” Henke said of the funds payable in December.
The move to borrow did not go unquestioned, however, as Ward 2 Alderperson Jason Meyer raised several questions related to the prudence of borrowing.
“What I want to avoid is a year from now we have a financial crisis because we don’t have the money,” Meyer said.
Henke said that the funds were used for projects only and that it was “certain” the city had enough for its general operations.
Discussion more generally focused on the importance of maintaining cash flow while large-scale projects progress, noting that final costs and reimbursement totals are still being finalized. A clearer financial picture will be available later in the year as grant determinations and project closeouts are completed.
Also from Monday, the city heard from Travis Alger and Jody Halterman of Stanley Fire, who presented on a fire truck proposal for a Pierce Fire Truck as the department’s current trucks are from 1993 and 2003 respectively.
“It’s time for the city to realize our equipment has aged,” Halterman said as he and Alger presented a proposal to buy either an International with 4-man cab or Pierce Saber fire engine. Visits had been made to W.S. Darley Co. in Chippewa Falls and Pierce at Appleton. A new International sourced locally would be $706,213 before potential discount, with greater water carrying capacity and improved ISO rating among the perks of a new truck.
“How soon will we have to pay in full to get the discount?” Wards 1 and 8 Alderperson Ben Wald asked.
“First of May,” Alger said. Pierce Saber and International were both made in Florida, with delivery in the first quarter of 2028 if purchased now.
“Is there a way to make gradual payment?” Wards 4 to 7 and 9 Alderperson Laurie Foster asked, with Alger replying that paying up front was better as the money on fire truck purchases was made in lease agreements.
No action was taken on the fire truck matter by the council Monday.
In other news from council meanwhile, the city voted to repeal charter ordinance 2-2-3 linking the clerk and administrator positions, also approving updates to the fire department bylaws stating that reports would be made to city hall and city council, whereas they had been made to “the city administrator” previously. Another important change in fire bylaws had to do with Class A violations, with members prohibited from operation of emergency motor vehicles for Class A violations within five years.
As for library news, the council approved a $259,397.87 payment to Hoeft Builders for work on the D.R. Moon Library Project. The payment comes as council members took a tour of construction progress before the meeting April 6, the library slated for completion later this summer. The council also approved a to projects from Water Well Solutions, one for removal and partial modifications of pumping equipment on well number 3 to cost between $19,245 to $24,345, and another for final modifications to the same to cost between $16,870 and $21,910. The two projects are separated for grant application purposes.
Also of note Monday, the council considered amending agreements on the use of the community center, which has been a money loser. The new agreement features a tiered system with different rates, allowing the city to charge for non-profit use, with potential waivers for events like blood drives on a case-by-case basis.
Following discussion in committee of the whole, Ward 3 Alderperson Therese Metzger moving to amend the agreement to be transferrable to other non-profits, with second was made by Wald. The agreement with amendment was later approved in council with motion by Wald seconded by Fitzsimmons.
Closing out this week’s council update, council members approved a recommendation related to expansion of the Chapman Park Campground from Streets, Parks, and Cemetery head Joe Schmitt. The approval means the campground will grow by eight campsites, located on the west side of the campground by Chapman Lake. Approximately $7,000 would come from the city, with additional funding from collaboration with the Rodeo, which has money for parks.
“We had non-stop calls from 8:30 to around 11 from people wanting to use our campground,” Deputy Clerk Maggie Wurst said of campground reservations opening earlier this month. Finally from council, members moved to approve a pay rate for Wurst of $24 per hour, with one year probationary status. Motion to approve the raise was made by Foster seconded by Wald, with Metzger abstaining from the vote as she is Wurst’s grandmother.