WAHOO – The Wahoo City Council is hopping on a recent trend by government entities to refinance bonds in order to save money.
At their Nov. 14 meeting, the council passed two ordinances authorizing DA Davidson and Company to issue Highway Allocation Fund Pledge Refunding Bonds not to exceed $2,525,000 and Combined Utility Revenue Refunding Bonds not to exceed $2.9 million.
Cody Wickham of DA Davidson informed the council that interest rates have dropped in the last six months, but are trending back up as more and more bonds are refinanced.
“Rates are creeping up a touch due to the overabundance of supply now,” he said.
The refinancing of these bonds will save the city nearly $300,000 in interest, Wickham told the council.
“It’s definitely a good market environment,” Wickham said.
The council waived the required three readings for both of the ordinances.
In other action, the council discussed the situation regarding Mary Durham, who was declared an irresponsible pet owner by the council last month.
City Attorney Jovan Lausterer said Durham has complied to some extent with the council’s order that she cannot own dogs for a required amount of time. But he also said she has ignored the order as well.
Lausterer said Durham is asking to have a dog declared an emotional support animal through the Americans with Disabilities Act. A similar request from another resident is also pending, the city attorney said.
Police Chief Bruce Ferrell said the city has given Durham extensions to comply based on her request to submit a letter to the council regarding the emotional support designation.
Wahoo Planning Commission Chairman Mike Kleffner spoke during public comments about concerns with the concrete that was recently poured as part of the Chestnut Street project.
Kleffner said the weather was too cold for the concrete to properly without being covered overnight. City Administrator Melissa Harrell said the city engineer, JEO
Consulting Group, had a conversation with the contractor about the situation and discussion will continue.