Village to borrow $250,000 for project
By Jane Myhra
The Iola Village Board approved borrowing up to $250,000 at its May 9 meeting.
This money will be used to finance the estimated $330,000 improvements to Iola Street. The remainder of the cost is covered by a $120,000 anonymous donation.
The construction loan will extend the village’s current loan by two years, with no increase in payments. The interest rate is 4 percent, with no prepayment penalty.
The village plans to make some improvements at Taylor Field, according to Parks Committee Chair Kathy Briquelet. She reported that the scoreboard lights will be fixed and a new chain link fence will be installed.
Tammie Jo Berg reported that the Iola-Scandinavia Chamber of Commerce will sponsor its annual Fireworks Celebration on July 3. The rain date is July 5.
Lyle Mork, of American Legion Sheveland-Taylor Post 14, requested a donation toward new monuments at Legion Park. The request will be put on next month’s agenda.
Mork reported that after this current project, he will begin raising money for a monument honoring the area’s military women. He said there are 37 women from the I-S area who have served in the U.S. armed services since the Civil War.