City bond refinancing expected to save thousands

    Action last week by the Imperial city council is expected to save thousands of dollars.
    Council members approved the refinancing of an original 2014 series of general obligation bonds that had totalled $2 million.  
    This year is the first year those bonds could be refinanced (law requires a five-year wait), which was recommended by Bruce Lefler with Ameritas in Omaha.
    His company handled the bond sales for the city, and at last week’s meeting, Lefler said lower interest rates now compared to five years ago could potentially save the city $70,000 to $80,000 after the cost of refinancing.
    Five years ago, the interest rate for the city bonds sat at 3.58%. It’s now about 3%, he said.
    The outstanding principal on the bonds now stands at $1.59 million. The new ordinance calls for the issuance of the 2019 series of bonds not to exceed $1.675 million.
    Lefler said there was additional funding added in the new series to leave some room for flexibility.
    Before adoption of the ordinance, the council approved a resolution calling for redemption of the current bonds.
Hospital bill
    The $436 hospital bill that was the subject of court cases that went all the way to the Nebraska Supreme Court will be on the council’s May 6 agenda, according to Jo Leyland, City Clerk/Administrator.
    There have been requests to have it placed on the council agenda since the county commissioners voted last month to pay half of it.
    The city has yet to take any action on the bill arising after the county required an Imperial police-arrested man to get a medical exam at the hospital before accepting him into the jail in December 2016.
    Leyland said it was the mayor’s decision not to place the bill discussion on previous agendas as work continues on a jail contract.
    According to Commissioner Jacci Brown, the contract they are working on dealing with acceptance of prisoners at the Chase County Jail includes a section that has the county and city splitting the cost of any required medical exams for potential prisoners arrested by city police.
    Which entity, city or county, should pay those bills has been the subject of the court cases that went from Chase County district court all the way to the state Supreme Court.
    Council member Chad Yaw, who’s been working with Commissioner Brown and Sheriff Kevin Mueller on a potential contract for jailing of prisoners, said due to schedules they hadn’t met again since the last council meeting.
    Brown said it appears things are “on track” and they are “getting closer” to a contract to present to the council and commissioners.
Other business
    In his monthly report, Public Works Supt. Pat Davison informed the council bid opening for a new water well in Campbell Park was set for today (Thursday). The city’s engineer, Miller & Associates, will be here for the bid opening set for 2 p.m. at the city offices. Davison said, if a bid is eventually approved by the council, the new well will be located south of the water tower. The one it would replace has deteriorated well casings, he said.
    Community Development Director Jason Tuller said the city did not receive the grant for shade structures at the city parking lot, but received funds recently for new soccer goals for next season.
    Police Chief Ryan Wisnieski noted he had an interview scheduled this week for an officer to replace Daniel Morales, who moved. There are 36 law enforcement agencies in the state looking for officers, he said.
    Mary Wilson was approved as manager at the Imperial Country Club’s Back Nine. Council members voted 4-0 on the application received from the Nebraska Liquor Control Commission.
    Supt. Davison was reappointed director, and council member Yaw, alternate, to the Municipal Energy Agency of Nebraska (MEAN) board of directors and its management committee.