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By Sue Curry Jones
Councilmen and city officials were pleased to hear the statement Tuesday evening that refunding the certification of participation bonds adopted in 2001 would be a worthwhile venture for the City of Ava –– the savings would be about $80,000.
Steve Goehl, vice president of public finance, D.A. Davidson & Co., of Kansas City, reported to council that a refinance of the bonds would indeed save the city money.
Initially, when Goehl addressed city council in July, he projected a refunding of the bonds would gain a savings of 3 percent or $26,000, but on Tuesday, Goehl said the net savings would reflect 7.69 percent. He attributed the positive gain upon the city’s good standing, and the economic downturn.
Council unanimously supported the option with a 3-0 vote, and plans are to close the deal on August 30.
The bonds were implemented in Nov. 2001 to cover costs associated with the swimming pool remodel, improvements to the electric system, and purchase of an upgraded fire truck. The bonds, which will be paid off in Nov. 2021, may be refunded again in 2016.
During the evening meeting, two business properties were approved for rezoning from B-2 central business district to B-3 general business district. The locations were: 810 SW 10th Way, owned by Max and Wanda Murphy; and 402-1 Fox Meadow Drive, owned by Thomas & Co., P.C.
Council amended the code on fireworks regulations by deleting one of the ordinance paragraphs that stated –– “It is unlawful for any person to discharge any fireworks within the city except that unopened packages of fireworks may be possessed during the time period from June 20 to July 4 of each year”. A clarification was also incorporated into the hours of operation clause, changing the text to read –– “Hours of operation shall be June 20 through July 2, 8 a.m. to 11 p.m.; July 3 through July 6, 6 a.m. to 12 midnight.”
The council also authorized city personnel to continue in the process for a Land and Water Conservation Fund Grant.
Bills were approved for payment, and court docket dated July 15 was accepted.
Council members present were Judy Lovan, Burrely Loftin and Ric Engelhardt. Councilman Billy Long was absent.