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Preston council looks at Highway 52 project


Fri, Apr 11th, 2003
Posted in Features

The Preston City Council approved a contract to hire Bonestroo Projects to oversee the citys share of the Highway 52 project. In conjunction with this, Mike Bubany with David Drown and Associates presented the council with background information on how to pay for and finance the improvements on streets and sewers that are planned. This is a cooperative project between the state, county, and city.

Bubany presented options for assessments and bonds to pay the city's portion of $950,000. The City would need to provide for about $1,223,333. This allows for interest on the bond and 5% extra required by law to cover for citizens who pay late or not at all. Besides bonds, Bubany suggested there be special assessments on those properties with road and utility improvements as they do improve property values. Because of the unusually high cost of the storm sewer part of this project he suggests a hybrid approach to assessments that would only assess a portion of the costs not related to the storm sewer improvements. Assessments that are placed on property owners can be paid over time or in one chunk.

Bubany suggested, if possible, to schedule the bonds for ten years or the shortest time feasible. "The quicker you pay off the debt the better", otherwise the City can be burdened when there is need for another future project.

Bubany also discussed proposals made by Governor Tom Pawlenty that, if they were to become law, would make it more difficult for a City to issue debt for improvement projects. Bubany characterized the Governor's proposal, which could require a referendum for bonding projects, as a real clamp on city projects.

Other business

Mamie Kingsley, a junior at Fillmore Central, gave an earnest talk on Together with Kids-Fillmore Central Youth. She explained that a healthy community needs healthy youth, that youth need support and encouragement, and a mentoring program. Youth need to feel valuable and important. She cited a questionnaire given to Fillmore Central youth where they rated themselves as less valued, less useful, and without positive adult role models. She said the group meets the last Monday of every month at 7:30 p.m. at the bank building.

Karen Reisner can be contacted at news@fillmorecountyjournal.com

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