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Bonds Approved for Seneca Street Projects

By Greg Bebermeyer and Heidi Wolfgang

09/19/2014

(KMZA)--The Seneca City Council has approved the issuance of $830,000 in general obligation bonds to pay off temporary notes issued to fund two street construction projects.

The Council Wednesday evening accepted a bid from Stern Brothers for purchase of the bonds at a 2.874 percent interest rate, which they plan to sell to the State Bank of Bern.

The bonds are for a ten-year period, but the city can pay them off in 2021 if they choose.

They will retire temporary notes issued for the Branch Street extension project and construction of Fairway Drive.

In other business, the council approved spending up to $30,000 for improvements to Swisher Ball Field.

The city plans to purchase new bleachers for both the home and visitors side. The city has already installed two light poles at the ball field and has plans to pour concrete pads for the bleachers.

City Administrator Matt Rehder says the funding for the improvements will come from the sale of three properties from the Spring Creek Golf Course area.

And three bids were received for the painting of the Aquatic Center this fall. However, the Council didn’t take any action pending the acquisition of at least one year warranties and references from the companies that submitted bids.

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