Washington Evening Journal
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Marengo approves bonds for public works
By Winona Whitaker, Hometown Current
Sep. 14, 2023 1:54 pm
MARENGO — The Marengo City Council approved a loan agreement last week for the issuance of $1.075 million in general obligation urban renewal bonds for a new public works building on Dillin Street.
“We’ve got debt dropping off, so we keep the tax levy the same, said City Administrator Karla Marck.
The City will pay for the loan using a combination of water and sewer fees, debt levy and local-option sales tax, said Financial Manager Ellen O’Rourke.
The first payment won’t be due until 2025, though an interest payment will be due in June 2024, City Attorney Gage said.
Marengo’s water bill includes sewer and landfill charges and additional fees for special items, said Marck. After the city paid off the water tower, the $10 allocated for it on the water bill was earmarked for the sewer fund, said Marck.
A year ago, residents passed a referendum for $3.8 million to pay for a new swimming pool to be constructed by City Hall, said Marck. The old pool location will be used for hospital expansion, she said.
But residents were concerned about having a pool — and the children who use it — so near the public works building — and the traffic that accompanies it. So the city is planning to build a new public works building on Dillin Street, said Marck.
The city rebid the pool project this month. The city initially put the project out for bid too late in the construction season and received only one bid, which was too high, said Mack.
Northland Securities, based in Minneapolis, will be the dissemination agent for the issuance of the bonds.