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"Where Fillmore County News Comes First"
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Saturday, January 31st, 2015
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Preston refinances 2007B bond


Mon, Jan 26th, 2015
Posted in Preston Government



Mike Bubany, David Drown and Associates, in his capacity as Preston’s financial adviser, recommended refinancing the General Obligation Improvement Bond issued in 2007 (Valley Street & Corn Cob Acres area project) at the council’s January 20 meeting. The bonds are callable in February. The refinancing of the bond with just over $300,000 of outstanding principal would save over $10,000. The bond is split with Preston Public Utilities.

Bubany recommended selling the bonds through the use of the Micro Loan Program offered by the Minnesota Rural Water Association. The fees totaling $3,800 are considerably less than costs incurred by selling on the open market. The savings of over $10,000 is after all fees associated with issuance.

The Micro Loan Program usually has a limit of $250,000. However, due to the city’s strong credit worthiness and short repayment period, the lender has authorized the larger amount.

The council unanimously approved the resolution authorizing the issuance of $306,000 General Obligation Improvement Refunding Bonds, Series 2015A. The effective interest rate will be 1.9 percent (the interest rate on the 2007 bond was just over 4 percent). The bond purchaser is F & M Community Bank. The final payment on the new issuance will be on February 1, 2018.

Other business in brief

• Police Sergeant Blaise Sass introduced two new part-time officers; David Huse (Rochester) and Katy Davis (Stewartville).

• Ambulance director Ryan Throckmorton detailed the ambulance write-offs for 2013 and 2014. The 2013 write-offs of $4,354.52 are mostly uncollectable accounts. He noted that these write-offs don’t forgive the debt as they can continue to pursue collection. Write-offs of $1,393.15 for 2013 are representative of the funding gap between private insurance, Medicare and Medicaid reimbursements and the ambulance service standard rates. Write-offs for 2014 in the amount of $56,946.11 are again resultant of the funding gap. The write-offs were approved as presented. It was noted that the ambulance service actually normally only collects about 75 percent of the amount billed.

• The 99 year lease approved in 2004 for Midwest Wireless (at the time) for the cell tower is now held by Verizon Wireless. City Administrator Joe Hoffman explained that the company has requested permission to install a diesel generator at the cell tower site (curr .....
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Dorian Honor Band students selected from Fillmore Central

Mon, Jan 26th, 2015
Posted in Fountain Education

The following ten Fillmore Central Band Students on being selected to participate in the 2015 Luther College Dorian Honor Band on Sunday, February 22 and Monday, February 23, in Decorah, Iowa: Participating in the Massed Bands: Cami Jones, flute ..... 
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Dorian Honor Band students selected from Fillmore Central

Mon, Jan 26th, 2015
Posted in Harmony Education

The following ten Fillmore Central Band Students on being selected to participate in the 2015 Luther College Dorian Honor Band on Sunday, February 22 and Monday, February 23, in Decorah, Iowa: Participating in the Massed Bands: Cami Jones, flute ..... 
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Dorian Honor Band students selected from Fillmore Central

Mon, Jan 26th, 2015
Posted in Preston Education

The following ten Fillmore Central Band Students on being selected to participate in the 2015 Luther College Dorian Honor Band on Sunday, February 22 and Monday, February 23, in Decorah, Iowa: Participating in the Massed Bands: Cami Jones, flute ..... 
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Tom Vix Gets 600th Win…

Mon, Jan 26th, 2015
Posted in All Sports

Is it possible Rushford-Peterson boys’ basketball coach Tom Vix is just hitting his prime? If you gage it by how quickly he went from 500 to 600 career wins, the answer would be yes. Win number 500 came at the end of the 2010-2011 season. Le ..... 
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Houston School Board recognizes student robotics team

By Angie Rodenburg

Mon, Jan 26th, 2015
Posted in All Education

The Houston School Board met on January 20. At the meeting the FLL robotics team got a chance to show their skills to the school board by showing a video from their Lego Robotics tournament. At the tournament, the “Knit Wits” placed second in the ..... 
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Lanesboro School Board hears about Tex-Mex trip

Mon, Jan 26th, 2015
Posted in Lanesboro Education

Dave Rodgers and three high school students, Cassie Rued, Leah Ruen, and Alyssa Gathje, were at the Lanesboro School Board meeting to talk about the recent Tex-Mex trip. Dave Rodgers was a chaperone on the last trip two years ago. This time he was ..... 
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Becky's Food Tales - Have a bran-tastic day

By Becky Hoff

Mon, Jan 26th, 2015
Posted in All Columnists

Those who know me may be aware of the fact that I am not a morning person. Perhaps it is a holdover from years of working night shifts; I do not know. If you call my house before nine a.m., prepare to leave a message. I may be awake, but I am not ..... 
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Chatfield Brass Band invites new members

Mon, Jan 26th, 2015
Posted in Chatfield Social Scenes

Rehearsals are beginning for the Chatfield Brass (and woodwind) Band, as they prepare music for the summer concert season. The band invites instrumentalists of all ages to come to rehearsals and join the band. The CBB is a traditional concert band t ..... 
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