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Village Council Okays New Refuse Contract



Archbold Village Council approved a new residential refuse collection contract that includes a 1.4% increase at its Monday, Dec. 17 meeting.

Dennis Howell, village administrator, said the 2013 contract will be based on 1,765 residential refuse stops, at a cost of $13.13 per stop per month.

Total cost of the contract is estimated at $278,093 for residential trash pickup and recycling services.

Council learned the village earned about $26,000 in interest income from investments placed with Huntington Bank.

Howell said the village has about $5.4 million in the investment account.

Councilmen approved moving $750,000.

$150,000 was transferred from the income tax fund to the street maintenance fund. The money will fund continued operation of the street department.

Another $600,000 was moved from the income tax fund to the capital projects fund to pay for capital projects.

Councilmen also passed an ordinance amending village appropriations for 2012.

The move balances the books in preparation for the end of the year. Howell described the action as a housekeeping measure.

Council also reviewed the village bond indebtedness report.

Bonds

The report indicates that as of Dec. 14, there are eight bond issues outstanding:

•North Pointe No. 2, $745,000 in bonds issued in 1994; repaid by special assessments on lots; interest due: $11,870; principal due: $125,000; interest rate paid to bond holders: 5.5% to 6.5%; final payment: 2014.

•Lugbill Fourth Extension, $315,000 in bonds issued in 1994; repaid by special assessments on lots; interest due: $11,378; principal due: $80,000; interest rate paid: 6.4% to 7.25%; fi- nal payment: 2015.

•Lowell Short Subdivision, Clover Lane: $285,000 in bonds issued in 1996; repaid by special assessments on lots; interest due: $14,510; principal due: $90,000; interest rate paid: 4.25% to 6.6%; final payment: 2016.

•Holland-Meadow Road; Quail Hollow subdivision; $810,000 in bonds issued in 1998; repaid by special assessments on lots; interest due: $14,510; principal due: $335,000; interest rate paid: 4.65% to 5.35%; final payment: 2018.

•Primrose Lane & Lugbill Sixth Addition; $765,000 in bonds issued in 2001; repaid by special assessments on lots; interest due: $130,215; principal due: $445,000; interest rate paid: 4.65% to 5.35%; final payment: 2021.

•Lowell Short fifth addition; $215,000 in bonds issued in 2004; repaid by special assessments on lots; interest due: $62,500; principal due: $155,000; interest rate paid: 5% to 5.625%; fi- nal payment: 2024.

•Woodland Park, $1.35 million, second issue of $500,000, issued in 2010; repaid by village revenue; $1.35 million issue: interest due: $516,130; principal due: $1.25 million; interest rate paid: 2.25% to 4.35%; final payment: 2030. $500,000 issue: interest due: $175,470; principal due: $500,000; interest rate paid: 2.25% to 4.20%; final payment: 2028.

•Wastewater Treatment Plant Improvements; $1.8 million in bonds issued 2010; repaid by village revenue; interest due: $693,123; principal due: $1.67 million; interest rate paid: 2.25% to 4.35%; final payment: 2030.

Other Reports

Howell said council reviewed the village finance police, and street department reports.

Under correspondence, village officials were still working with the Ohio Department of Transportation on the repaving of South Defi ance Street, from the West Barre Road-Lafayette Street intersection to the Brush Creek bridge.

ODOT and village officials are working on a “local let,” in which ODOT would allow the village to design, engineer, and act as construction manager of the project.

Plans call for the road to be repaved, possibly in the second half of the 2013 construction season.

Council also received a letter from John Kasich, Ohio governor.

Howell had sent a letter to the governor, asking him to freeze alternative energy requirements in Ohio law at 2012 levels.

The theory is that more restrictive environmental standards imposed by the law will damage the state’s economy.

Kasich said nothing will be changed at this time.

Council will hold a special meeting to close the books on 2012, Thursday, Dec. 27, 6 pm, in council chambers.

The next council meeting is Monday, Jan. 7, 2013, 7 pm, in council chambers.



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