Bond amendment will save $76K

Facebook Twitter Email

KEIZERTIMES/File Photo

By HERB SWETT
For the Keizertimes

An amendment calculated to save Keizer more than $76,000 annually was approved by the City Council on Monday.

The vote extended the terms of an agreement between the Keizer Urban Renewal Agency and Bank of America that primarily involves the construction costs of the new Keizer Civic Center. The agency consists of Mayor Lore Christopher and the council members.

Susan Gahlsdorf, Keizer finance director, reported that of the $12,260,000 borrowed, all but $2,660,000 had been repaid.  The agency had enough cash to pay the balance, she said, but the agency needed cash to help mitigate city interest costs on the Keizer Station local improvement district debt.

The LID debt carries a 5.2 percent interest rate. The interest rate on the line of credit is variable, tied to the Prime Rate, and is currently 2.3137 percent. As with the original agreement, the line of credit can be repaid ahead of schedule without penalty.

Just before the regular council meeting, the council met as the Urban Renewal Agency and approved the amendment, as it would in regular session.

In other business, Stan Hoisington, an identity theft specialist, asked the city to provide information on child identity theft. He said one out of 10 children have been victims of it.

Jerry McGee, a former Keizer councilor, urged that elected city officials not participate in an approaching fundraiser that will involve dunk tanks. He noted that there had been suggestions that councilors do so and that Christopher had referred at the June council meeting to a city decorum policy against it.

The council approved an amendment to the procedure for apportioning LID assessments, by which the public works director rather than the city engineer will submit to the council his recommendations for apportionment. Gahlsdorf said the amendment would save money. The council also approved an application fee of $225 per lot.

The council approved proclamation of July as Accessibility Awareness Month. The resolution had been presented by The Accessible Organization and Oregon Paralyzed Veterans of America.

Resolutions approved by the council were:

•Authorizing the public works director to enter into an agreement with Pacific N-Ter-Tek for pipe cleaning and television inspection.

• Establishing the Traffic Safety/Bikeways/Pedestrian Committee.

• Authorizing appropriation of excess expenditures for park bark chips.

• Granting step increases to the city manager and city attorney.

The council approved appointments of:

• Jodi McBride to the Festivals and Events Services Team.

• Hersch Sangster to the Planning Commission.

• David Louden to the Parks Advisory Board.

Police Chief H. Marc Adams announced that Brian Hunter, school resource officer at McNary High School, was retiring and being succeeded by Officer David Zavala.

Gahlsdorf said that Karen Hillier had resigned as utility billing clerk and that applications for the position were open.

Print Print

ADVERTISEMENT

Copyright (c) 2010 Keizertimes / Wheatland Publishing. Created by Born Invincible Design.