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Council moves forward on finance plan

 


A member of Robert W. Baird and Co., presented the finance plan they drafted for the City of Sidney General Obligation Bonds at the city council meeting on Tuesday, Sept. 27.

The City of Sidney currently has three bonds that are coming due. The finance plan presented gave options for long-term financing to pay off the bonds due. Two bonds are due this December and one bond is due June of 2017.

Step one of the finance plan involves applying for a rating of the City of Sidney’s credit. This process will cost around $15,000, but will save the city more than $100,000 in repayment on loans obtained.

Mayor Mark Nienhueser states, “Getting a rating for Sidney will not only save the city money but will also give us a score card to track how well we are managing city finances.”

A motion was passed to approve moving forward in obtaining loans to repay the bonds that will be due equaling $14,500,000.

After a rating has been received Sidney City Manager Ed Sadler will present different loan offers and interest rates to council at a public hearing. The hope is to finish deal in November for the first two bonds and then finish deal in December on bond that is due in June.

City Attorney J. Leef presented the consideration of franchise agreement with Charter Communications. Leef reported that agreement is now ready for consideration after the contract was narrowed to being five years long instead of the original 10 year plan. An agreement was also made with Charter for a separate pole agreement to be made created by the city rather than using Charter’s standard pole agreement.

The consideration for the franchise agreement was ultimately tabled due to concerns from the council regarding Charter not coming to meet with council despite requests that date back over a year.

Councilman Wendall Gaston also expressed concern of the local office closing and hearing multiple concerns from the public regarding poor customer service. Council has requested that city staff contact Charter and let them know of council’s concerns, and request to meet in person to discuss current problems and then report at the next meeting on Charter’s response.

A public hearing meeting has been set been set for Oct. 11 at 7:15 p.m., to have final reading to adopt an ordinance for chronic nuisances. As previously reported, this ordinance will put in place a three-strike rule. With this rule any property that has three or more documented violations within a six-month period would be required to abate the nuisance or be charged with a simple misdemeanor and a fine up to $500. Once a property has been designated a chronic nuisance the property will be on a probation period for 18 months. Any new nuisance issues would be a new misdemeanor and a fine of up to $500. Any citizens with questions or concerns regarding this ordinance are asked to attend the public hearing meeting on Oct. 11.

The council approved Bruce Leypoldt another three-year term on the Historic Preservation Board. It also appointed Marva Ewanger and the Rev. Edna Drazdowski for three year terms.

Council members approved Scott McDaniel to serve another term on the Housing Authority Board. According to Councilman Rodger Galloway, “McDaniel does a great job on the housing authority board and is very invested.”

The library board has accepted a resignation from board member Michelle Onstott who has served on the board since May 2010. The council has approved Jennifer Ramsey to fill this vacancy for the remainder of Onstott’s term. Ramsey will then have the option to serve two more full terms. According to director of the Sidney Public Library, Andrew Sherman, Ramsey is currently the liberian for Sidney Public Schools K-6, and believes she will be a great asset to the library board.

Sadler reported Anna Way is now open connecting Cabelas and 11th Ave. The stoplight at that intersection is complete as well.

Sadler noted that the light poles on Pole Creek Crossing are currently being installed and should be completed by the end of this week.

 

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