The Manawa Common Council approved the refinancing of loans at its Nov. 22 meeting.
The city of Manawa will refinance its existing debt and borrow to provide funds to repay the Tax Increment Finance (TIF) in the amount of $605,000. The loan will be secured at Baylake Bank and is expected to be paid off in about eight years. The council also approved setting up a $250,000 line of credit at 3 percent interest.
The council approved submitting information to the Wisconsin State Trust Fund for possible funding for future street work projects. The Trust Fund allows municipalities to borrow up to $4 million. The Finance Committee will discuss the feasibility of borrowing about $500,000 to $1 million to complete some or all of the city’s street projects.
A public hearing on amending the city’s controlled substance ordinance will be held during the council’s Dec. 27 meeting. The council is considering prohibiting synthetic cannabinoid, a marijuanalike substance. Police Chief David Walker noted the synthetic substance has dangerous effects and is worse than marijuana.
Fire board update
The response time has improved for the Manawa Rural Fire Department, reported fire board representative Bob Lieberman. The local response time has dropped to 8.86 minutes in 2010, compared to 9.2 in 2009. “That’s doing well,” Lieberman stated.
The fire department’s calls have remained about the same, with 66 calls this year compared to 68 in 2009. Ambulance runs are up, with 285 in 2010 compared to 260 last year.
According to Lieberman, the Manawa Ambulance Service is applying for a grant to help finance an upgrade to the defibrillator system. They are hoping to purchase a refurbished life pack unit for about $9,000, compared to a new $17,000 unit. The ambulance service is also considering purchasing an oxygen filling station instead of paying a service to refill oxygen tanks.