The Salem City Council has approved a refinancing of its general obligation bonds to pay off the Salem Aquatic Center and waste water treatment plant improvements. City Manager Rex Barbee says approving the low bid from Key Government Finance will save the city consider money.
“The existing bonds still have about seven to eight years to go on them and the rates are, have been in the area of 2.5 percent or higher because of one of the bonds is on a variable rate. What we have targeted with this particular bond referendum, or bond refinance, gives us an opportunity for the, to get into a rate of less than one percent and over the remaining life of the loan on the number of dollars that we have involved. We’re expecting to save and future interest costs in excess of $150000 over the term of the loan.”
The city council Monday night rejected the rezoning of five acres of open land on Airport Road north of Dahlens Drive from residential to commercial that would have allow for construction of storage buildings for large items, such as boats. The Salem Planning Commission had earlier unanimously rejected the proposal.
The city council agreed to allow improvements to be made to an existing boat dock from a private residence on the Salem Reservoir. The city staff in the past has rejected the construction of new boat docks that have to cross city right of way.
After a closed session, the city council agreed to keep an officer in the South Eastern Illinois Drug Task force for another two years. Police Chief Sean Reynolds had earlier expressed the importance of the position in fighting drug trafficking in the city.
The Salem Elks were given permission to close Alley Street between the Elks and Medicine Shoppe after the Little Egypt Festival Parade on Saturday, October second to allow more people to spread out for a band scheduled to play that afternoon.
The Gonzalez Company was given a contract to oversee the ongoing closure requirements for the now closed Salem Landfill.
