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Wall Street comes to Main Street


Fri, Oct 17th, 2008
Posted in Government

Spring Valley - "We've been kicked in the rear twice since we last met!" These were the words of Mike Bubaney of David Drown Associates as he addressed the Spring Valley City Council at their October 13th meeting. The comments were made as Bubaney brought the Council bad news regarding the status of financing of 1 Million dollars for two new generators for the City's Electric Utility.

Bubaney told the Council that the original proposal for payment was to join with several other communities in a pool debt program. This would eliminate the need for Spring Valley to carry the entire debt up front and to share the loan with other communities. Climbing interest rates in the last two weeks has dried up that possibility and now the City will be forced to seek other funds, such as a competitive bid with anticipated higher interest rates. Those rates went from 4 1?2% to 5 1/2/% and the project cost is projected to be $1,968,700.

"For the most part this was caused by the market problems on Wall Street", said Bubaney.

To move the project ahead the Council approved a resolution authorizing David Drown to solicit bids for the competitive negotiated sale of the Bonds. The opening of those Bonds is scheduled for November 10, 2008.

Other Business

In other business, the City Council heard a request from the owners of Dave's Cycle who have asked for an extension to move from the old lumber yard property. They had been scheduled for October 15 but are asking for an additional two weeks. City Administrator Deb Zimmer said that they still owe $3,400 in back rent and Bill Bires stated that if they gave them the extension perhaps they will pay the overdue rent. The Motion passed and the extension was granted.

• Council members showed their dissatisfaction with the 2008 Hudson Improvement Project and the speed that it is moving along. The comments regarding construction of sidewalks and curb and gutter came forward as Road Constructors, Inc. has asked for payment certificate number 3 in the amount of $296,023.18. Administrator Zimmer said that they were permitted 75 work days and that has stretched out to be 80 work days and this may result in liquidated damages of $1,500 per day. Council members were assured that there will be adequate hold back funds of $27,708 in the form of retainage.

• A recent freeze up of the furnace at the Community Center resulted in damage to the ceiling of wallboard and bids will be sol .....
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Flood damage to dam being studied

Fri, Oct 10th, 2008
Posted in Government

LANESBORO - An evaluation of the damage done to the dam in Lanesboro is being done by Bonestroo Engineering. City Administrator Bobbie Vickerman told council members at their Monday, October 6 meeting that in order for the city to get assistance fro ..... 
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POET rain garden approved

Fri, Oct 10th, 2008
Posted in Government

PRESTON - A letter from Richard Eichstadt, General Manager of POET Biorefining, requested that the city of Preston allow POET to plant a rain garden on city property at the council's October 8 meeting. City Administrator Joe Hoffman didn't have an o ..... 
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Board discusses economic support programs

Fri, Oct 10th, 2008
Posted in Government

PRESTON - At the regular meeting of the county commissioners on October 7, Social Service Director Thomas Boyd asked for and received approval for a regional grant plan that would include Fillmore County. Boyd noted that the dollars available for Fi ..... 
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County Commissioner District 5

Fri, Oct 3rd, 2008
Posted in Government

Gary Gunderson, County Commissioner District 5

My accomplishments include:

• Graduating from Mabel High School;

• Serving in the U.S. Army;

• Carpenter in AFL-CIO union;

• Operating a farm and h ..... 
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County Commissioner District 3

Fri, Oct 3rd, 2008
Posted in Government

My name is Chuck Amunrud and I ask for your continuing support for re-election to the Fillmore County Board. I have now served six years on the County Board and have been working full time for the citizens who have elected me. Counties in Minnesota ..... 
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County Commissioner District 1

Fri, Oct 3rd, 2008
Posted in Government

Tom Kaase, County Commissioner District 1

For this article, I'm asked to describe myself, so here's the scoop. A husband, married to Dorle Grindland Kaase, who together have a 16 year old son, Kaine. A life-long resident of Fillmore County wh ..... 
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Spring Valley City Council approves plans for new pool roof

Fri, Sep 26th, 2008
Posted in Government

The Spring Valley City Council approved plans to construct a new steel roof over the municipal swimming pool at its September 22nd meeting. All council members were present and discussed construction bids from two local builders. Estimates solicited ..... 
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Bunge zoning and variance requests approved

Fri, Sep 26th, 2008
Posted in Government

PRESTON - The Planning and Zoning Committee held a public hearing on the Andy and Eric Bunge's request for zoning changes and variances just prior to the Preston City Council meeting on September 24. Councilman Robert Sauer was absent from the counc ..... 
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