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Bond refinancing provides savings for Fillmore County


Fri, Sep 17th, 2010
Posted in Government

The Fillmore County Board unanimously adopted a resolution to refinance the 2003 bonds for the courthouse addition and remodeling at their September 14 meeting. Mike Bubany, David Drown and Associates, recommended the sale of new bonds to replace those callable on February 1, 2011.

The decision should save the county about $100,000 over the life of the bonds. The actual interest savings are about $131,000. However, the total cost of the issuance is $31,390. Chairman Duane Bakke remarked the cost of the issuance is our way of keeping the economy going. The county received a favorable "AA-/Stable" long term rating from Standard and Poor's. Bubany said it is a nice strong rating and the county should be proud of that.

A few weeks ago the savings would have been greater with a slightly more favorable rate. Who knows if waiting would have meant more or less in savings. The decision to go ahead locks in a fixed rate.

Budget and Levy

County Coordinator Karen Brown said the overall 2011 budget decreased about 4.36 percent from the 2010 budget. The 2011 budget is $23,001,417 or $1,049,032 less than in 2010. The resolution to adopt the preliminary budget for 2011 was unanimously approved.

The preliminary levy for 2011 is $8,193,861 which is a 3.5 percent increase over 2010. Brown noted this is under the levy limit set by the state by over $312,000. Commissioner Marc Prestby said that in the past the county hasn't deviated from the preliminary levy when the final levy is set in December, but this year he wants them to consider the possibility. Bakke said there would be time for that after the public comment time on December 14.

The public will have an opportunity to comment on the budget and the levy on December 14, 2010, at 7:00 p.m. in the board room at the courthouse.

Semcac Requests

Sharon Rustad, Debbie Betthauser and Erlene Welshons gave updates on Semcac programs and made requests for financial support from the county.

Betthauser explained they serve 11 counties. The Senior Nutrition Program serves more people in Fillmore County than any other county. The Meals on Wheels program is in eight counties, but 38 percent of the services go to Fillmore County residents. There are 11 locations in the county. Betthauser said with aging seniors the demand for Meals on Wheels is increasing. There are 760 seniors in Fillmore County benefiting from their services. She requested a donation of $2,000 .....
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Rushford to determine "real cost" of WWTP upgrades

Fri, Sep 17th, 2010
Posted in Government



As the 2009 Street and Utility Improvement Project continues to make headway in Rushford, the council has pressed on with another necessary improvement, the Waste Water Treatment Plant. The project, consisting of several much-needed repairs ..... 
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Spring Valley approves TIF

Fri, Sep 17th, 2010
Posted in Government



Some major issues were approved in the regular meeting of the Spring Valley City Council on Monday night. They passed Resolution 2010-27 to approve an Interfund Loan for TIF 1-6 (Tax Increment Financing) for the TIF Districts 1-6. These loan ..... 
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Liquor license approved by Harmony council

Fri, Sep 17th, 2010
Posted in Government



During the Harmony City Council meeting on September 14, there was some discussion about the ongoing 3rd St. project. The council approved a second payment request for $42,176.44. They also approved an extension of three weeks for the substa ..... 
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Approval of CUP recommended for Mulhern expansion

Fri, Sep 17th, 2010
Posted in Government



At the September 16 meeting of the Fillmore County Planning Commission Mike Frauenkron assured members that the Mulhern Dairy's management plans were up to date and they were meeting all federal and local rules. The dairy is located in Fillm ..... 
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County board reviews 2010 progress

Mon, Sep 13th, 2010
Posted in Government

In January, when Duane Bakke became chairman of the county board, he listed seven issues that would need the board's attention during the year. The board looked at what has been accomplished to date on these issues at their September 7 meeting.
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Preston sets preliminary levy

Mon, Sep 13th, 2010
Posted in Government

The Preston City Council considered a revised budget at their September 7 meeting before approving the 2011 budget and preliminary levy. One of the changes in the budget was a reduction in the expected health insurance premium to just a two percent ..... 
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Lanesboro works toward getting approval of levy

Mon, Sep 13th, 2010
Posted in Government

At the meeting on September 7, the Lanesboro City Council approved the preliminary budget and tax levy for 2011. They approved a proposed levy of $442,720. City Administrator Bobbie Vickerman explained this number, which is a seven percent increase ..... 
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Preston sees a challenging budget year and potential bond interest savings

Fri, Aug 27th, 2010
Posted in Government

The Preston City Council discussed the 2011 budget challenges and the upside potential of significant interest savings through the refinancing of debt at their August 16 meeting. The weak economy's low interest rates have given the city an opportuni ..... 
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