The Jefferson city council at its March 24 meeting approved a bond purchase agreement for $2 million in general obligation bonds at a rate of 4.28 percent, including all fees.
Tim Oswald of Piper Sandler handled the transaction. He said he had been concerned the bonds wouldn’t be purchased due to fluctuation in interest rates reflecting uncertainty created by the war in Iran. He purchased (on behalf of the city) insurance that guaranteed payment of the debt and upped the city’s bond rating.
The bond sale will close April 9. Proceeds will pay for sidewalk work, a new firetruck, and an asphalt overlay on McKinley St. Payment will be from the city’s debt levy.
The council approved a bid of $38,400 from Shafer Roofing of Adair to replace the fire station roof. Shafer will tear off the roof down to the deck, install insulation panels and a thermoplastic polyolefin membrane. The roof will be warranted for 15 years.
City administrator Scott Peterson reviewed the findings of the annual financial audit conducted by the state auditor’s office. The audit found no financial irregularities, Peterson said. There were notes recommending more segregation of duties; daily reconciliation of utility billing collection and how any needed adjustments should be made; disbursements having exceeded the city’s certified budget in four different areas- culture and recreation, community and economic development, general government, and debt service.
The audit also noted the city does not pay property tax on farmland it owns adjacent to the municipal airport. The auditor says the city should be paying property tax on the property. The city maintains that although the property is rented as farmland, it is part of the airport and should not be subject to property tax. Peterson said discussion would continue with the auditor on that matter.
The audit found no questionable disbursements.
The council accepted the financial audit.
The council approved a 28E agreement with Greene County to provide recycling services for county residents. The agreement is for three years, with a maximum expense to the county of $25,000 per year.
The agreement calls for the city to maintain dumpsters “in a convenient location” for the use of Jefferson residents and residents of the unincorporated areas of the county. The dumpsters will be emptied at least once a week. The city will bill the county $250 per dump for 70 percent of the total number of dumps from dumpsters designated for plastic, metal and paper, and 25 percent of the total number of dumps of the dumpsters designated for corrugated cardboard.
As part of the consent agenda the council approved a request to use Kelso Park April 8 for a Civil War re-enactment.
