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Thursday, October 23rd, 2014
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Bond rating upgrade for Preston


Fri, Dec 6th, 2013
Posted in Preston Government

City administrator Joe Hoffman announced good news for the city at the council’s December 3 meeting. Standard and Poors in a random review raised the city’s bond rating from AA- to AA (stable).

This is especially good news as the city is planning a large street improvement project. Hoffman noted that the city could pay 0.15 to 0.20 percent less interest on bonds in 2014. Over a 15 year period the better rate could save the city $40,000 to $50,000.

Some of the reasons given by S & P to support the upgrade included a strong budgetary flexibility (reserves at 85 percent of expenditures), strong liquidity, and a strong debt profile.

2014 Budget and Levy review

Hoffman reported that the 2014 levy will increase by 5.3 percent or $36,078. The total levy will be $708,803. $21,000 of that increase will be related to new bond costs. Without the bonding costs for the street improvement project the levy increase would have been 2.2 percent.

Hoffman warned that while the 5.3 percent increase is higher than we wanted to be, property owners will continue to see increases in years going forward to pay for the street projects.

The city’s revenue comes from the tax levy (44 percent), state aid (30 percent), police and fire revenue (11 percent), library, park and tourism (6 percent), and other revenue (9 percent).

No residents were present to comment during the public comment portion. Hoffman noted that most homeowners saw a reduction in the market value of their home and a corresponding reduction in their property taxes. Tax increases largely impacted industrial and Agricultural properties. The total tax rate for the city was up 16 percent even with declining property tax bills for most homeowners.

Councilman Robert Maust asked what portion of the total levy comes from residential compared to business and Agriculture. Hoffman said he will get that break down for the council. The budget and levy will be brought back next meeting for final approval.

Other Business In Brief

•Ambulance Director Ryan Throckmorton reported that the ambulance service’s B-rig had another engine failure on November 20. The 2006 Ford was scheduled to be replaced in 2016. Throckmorton said repairs could cost anywhere from $3,000 to $10,000. The motor has had problems previously and the vehicle has just 77,000 miles on it.

Throckmorton review .....
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Kay Sunde

Wed, Dec 4th, 2013
Posted in Preston Obituaries

Kay Sunde, 72, of Preston, Minn. died Monday, December 2, 2013. Kay was born September 26, 1941 in Spring Valley, Minn. to Irving and Beatrice (Jerred) Applen. She graduated from Wykoff High School and later in life received her LPN degree from Ro ..... 
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Doris Marie Prinsen

Tue, Dec 3rd, 2013
Posted in Preston Obituaries

Doris Marie Prinsen, age 94, of Apache Junction, Ariz., formerly of Preston, Minn., passed away on Saturday, November 23, 2013, at Hospice of Arizona (Greenfield House) in Mesa. Doris was born in Preston on May 21, 1919, to John and Mary (Ledebo ..... 
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Give to the Max Day: Presentation of award to Fillmore Central

Fri, Nov 29th, 2013
Posted in Preston Business Announcements

Fillmore Central will again be the recipient of the challenge award between the Preston Area Community Foundation and the Spring Valley Community Foundation. The presentation will be on Tuesday, December 3 at the boys basketball game between Fillmo ..... 
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Birth Announcement - Grace Marie Sheridan

Fri, Nov 29th, 2013
Posted in Preston Social Scenes

Joe and Jessica Kniepke Sheridan of Columbia, Md., wish to announce the birth of their baby girl, Grace Marie, born on October 30, 2013.

Traditions of Preston under new ownership

Fri, Nov 29th, 2013
Posted in Preston Features

Roger Carlsen, of Mantorville, Minn., has taken ownership of Traditions of Preston located in Preston, Minn. Roger states that he has been looking to purchase an assisted care facility for quite some time and found Traditions of Preston to be just ..... 
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Gertrude “Gert” Kneeskern

Mon, Nov 25th, 2013
Posted in Preston Obituaries

Gertrude “Gert” Kneeskern, 70, of Richland, died early Tuesday, Nov. 19, 2013, at her home in Richland. She was born June 16, 1943, in Wrenshall, Minn., to Gilbert and Harriet DeJarlis Wolf. Gert grew up in northern Minnesota and graduated fro ..... 
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Discussion initiated for Preston Community Center

Fri, Nov 22nd, 2013
Posted in Preston Government

At the Preston City Council’s November 19 meeting Mayor Kurt Reicks began a discussion concerning a community center. Reicks had been approached by the Fillmore County Ag Society as to the possibility of working together to make a community cen ..... 
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Fillmore SWCD receives dividend from Minnesota counties intergovernmental trust

Fri, Nov 22nd, 2013
Posted in Preston Business Announcements

Preston, Minn. – The Fillmore Soil and Water Conservation District (SWCD) recently received a dividend check in the amount of $4,959.00 from Minnesota Counties Intergovernmental Trust (MCIT). MCIT is a member service organization that provides 81 ..... 
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