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Spring Valley approves new generator for utilities

Fri, Aug 15th, 2008
Posted in Government

The Spring Valley City Council took action Monday night, August 11, 2008 to help finance a new generator for Public Utilities. There were two resolutions passed that pave the way for financing one million dollars as half of the total cost. One resolution authorized Utility Bond Sales and the other resolution would permit entering a cooperative agreement with other cities in the power cooperative. Financial consultant Mike Bubaney said that he had approached banking institutions in Spring Valley and none of them felt they could make a one million dollar loan either singly or collectively, so financing was sought through an association with other cities. The total cost of the generator project is $2,003,950 with $1,000,000 coming as a cash contribution from Utilities and a Bond issue for $1,000,000 at an interest rate not to exceed 4.6% or $387,271 in interest.

Bidding Policy

The Council also adopted a Policy for Bidding and/or Obtaining Quotes. It outlines a step by step procedure to purchase items:

If the proposed purchase is in the budget and it's between $2,000 and $25,000 at least two quotes need to be obtained before the purchase can be made. Unbudgeted purchases in that same range need two quotes and approval by the City Council before purchasing.

Between $25,000 and $50,000 bids/quotes will be solicited and given to the Council for approval.

Budgeted or Unbudgeted Purchases over $50,000 will be let out to bid under State Statutes.

Industrial Expansion

Coming up at the September 8th meeting of the Council there will be a public hearing on the Preliminary Report of the Industrial Expansion Improvements for 2009. The hearing will deal with issues surrounding the extension of Sanitary Sewer, Storm Sewer, retaining ponds and street construction. If the Council decides to go ahead with the project, bids will be let in the first quarter of 2009 with construction next summer.

Other Business

• All the plans for Wilder Days seem to be coming together. All of the events promise to be crowd pleasers with a Soapbox Derby, and Parade, just two of the attractions.

• The Mayor presented a check from Waste Management to Natalie Klevan at the meeting. The Green Team check is a reward for the recycling efforts of area residents. The $588 will be for the Kingsland Band program.

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