DEWITT — Funding for the Eighth Street infrastructure project with the sale of general obligation bonds not to exceed $4 million was approved at the DeWitt City Council meeting Monday.
The bonds also will cover refunding of the city’s 2008 bond.
The winning bidder was D. A. Davidson & Co., of Denver, with a true interest rate of 2.696001 percent. There were two other bidders. They were good bids overall, City Administrator Steve Lindner said.
Finance Director Deanna Rekemeyer added that the city came out better than expected. Refunding of the 2008 bond will save the city nearly $300,000, including administrative costs over 10 years. May 1 is the closing date for the issuance of the bonds.
The council approved a lease agreement with DeWitt Land and Farm for property adjacent to Westbrook Park. The land will be used for development of an off-road bike trail. The agreement provides for clearing of foilage and does not require any rent payment.
Discussion of a proposal from Koestner, McGivern and Associates of Davenport resulted in approval of pursuing an appraisal for police headquarters at 606 Ninth St. at costs ranging from $600 to $1,000. Lindner said several local Realtors had been contacted for appraisal services but they did not feel it was within their field of expertise.
Construction of a new police station at the old REC building site is expected to begin nine or 10 months from now with completion a year from next September, Lindner added.
Councilmen Steve Hasenmiller and Kurt Ketelsen questioned marketing the building so soon but definitely did not want to wait until the department had moved out. Lindner said the intention was to let people know the building would be available.
The council approved the purchase of 70 hanging baskets at $2,256, one planter at $1,216 and $750 shipping, and 27 trash receptacle lids for $4,266 for DeWitt’s downtown. The baskets will be bought from Planters Unlimited of Carlsbad, Calif., and the planter and lids from Dura Art Stone of Pasadena, Calif. Funds are available through the self-supporting improvement district taxes, one-third of which is paid by donations from businesses and 66 percent from the general fund, Lindner said.