Beloit Addresses Electrical System Revenue Bonds

The Beloit City Council met on Tuesday night. The council approved two resolutions which authorize Peper Jaffray and Co. to refinance Beloit’s existing electric system revenue bonds and authorizing the offering for the sale of general obligation refunding bonds. City Administrator Glenn Rodden this action would save the city about $25,000 per year for a total approximate savings of $280,000.

The council also approved the purchase of new radios for the police department at a cost of $17,000 from Motorola Solutions. The purchase is being financed through Solomon Valley Bank of Beloit at a fixed rate of 2.25%.

The need for new radios was justified due to the fact that the PD has been using only handheld radios, and that there were no radios for the police vehicles.
System Operations Director Ronald Sporleder presented a bid which was approved by the council for a Hotsy Pressure Washer at a total cost of $6,095 after a trade in allowance of $1,709.

It was also announced that the new bid letting date for the K-14 project is set for February 17.

The council also approved an extension to Jerry Bossen to perform demolition work on a structure discussed at a previous meeting. Bossen expects to begin the project in March with a completion date of May 1 of this year.

During the work session, Brandan Pounds  of Leadership Mitchell County asserted that the organization would be willing to provide support to help fill the vacant 4th Ward council which remains open. The council recently refused to fill the vacancy. Pounds also expressed on behalf of LMC that they are concerned about declining voter turnout with a 30% turnout in 2012 and only a 15% turnout in 2014.

The next Beloit City Council Meeting is scheduled for Tuesday, January 19 at 7 p.m. at the Muncipal Building in Beloit.