A three-year loan of $24,879 was approved by the Iola Village Board at its July 8 meeting.
The loan will be repaid by the Iola Lake District to cover recent renovations to the Iola Dam. The first payment will be due in 2014.
Total cost for the dam renovation project was $48,830.
According to John Bertelson, chair of the lake district, the lake district had originally planned to pay $10,000 on the loan in 2014. He asked if they would be held to that obligation.
“The drawdown was supposed to buy us two years of weed control,” Bertelson said. “But now we need more weed control, so we need to save as much as possible.”
He noted the full weed treatment will cost $32,000.
The village board said the lake district was under no obligation to pay the full $10,000 in 2014.
In other business, the board discussed refinancing the $1.75 million loan for the Wastewater Treatment Facility. The purpose of refinancing is to reclassify the loan as a revenue obligation debt rather than a general obligation debt.
The refinancing was tabled until the August meeting.
Richard Anderson, chair of the Sewer and Water Committee, discussed roof problems at the sewer plant. A $13,550 estimate for a steel roof was presented.
Anderson said the committee is still gathering bids and checking on the roof’s original warranty.
A new dock has been installed at the boat landing, according to Betty Finch, chair of the Parks Committee.
She noted repairs will soon be needed to the parking lot and roadway at the village park.
“It’s in bad shape,” Finch said.
The July 3 Fireworks Celebration went well, reported Tammie Jo Berg, liaison from the Iola-Scandinavia Chamber of Commerce.
The chamber-sponsored Thursday Night on Main concert series is currently under way. The free concerts are held at 6 p.m. Thursdays through mid-August in downtown Iola.