Council Refinances Bond

By Sam Poe
Monday, February 4, 2013 | 4:02 PM
https://hbtv.us/news/?story_id=1443

The Haleyville City Council met Monday morning with all members present. After approval of the minutes from the last meeting on 01/22/13, the council took the following actions.

1. The council approved to refinance a 2004 bond for approximately $1 million. The city will borrow additional money for the following purposes.

-$350,000 for land acquisition for recreational purposes

-$425,000 for matching funds for the Highway 13 drainage project

-$225,000 for curbing and paving of city streets and building improvements

2. The board approved to enter into contracts with the State of Alabama and Shoals Electric for the acquisition of new LED traffic lights. The state will provide the lights if the city will pay for all essential hardware and installation. Shoals Electric will install the lights for $100 each. There will be a new traffic light at the intersection of 9th Avenue and 26th Street. If the state does not provide the lights for this intersection, the city will be responsible for the purchase. Shoals Electric provided a bid for $800-1200 for the project, if needed. The traffic light near Wal-Mart will be purchased and installed by Wal-Mart. The total cost for the City of Haleyville for these updates will be around $6,000.

3. The board approved to pave the south entrance to the Dixie Youth baseball field. The project will make the area ADA accessible. The improvements will be made by Dixie Paving and Sealing. It will cost around $7,500 and will be paid through the general fund.

4. The council approved to refinance the Health Department loan. The total will be $158,058.56 and will be financed with Traders and Farmers Bank. The monthly payment will remain the same, however it will decrease the term from 20 years to 15 years, saving around $14,000 in interest. This loan was approved by the previous administration and is paid for by the general fund, with no income to assist with the repayment.

5. The council approved to refinance the loan for the Old Frontier property with Traders and Farmers Bank for the amount of $212,908.89. This refinance will cut the monthly payment by around $250 and will save around $11,000 in interest. This loan was approved by the previous administration and is paid for by the general fund, with no income to assist with the repayment.

6. Richard Bittinger stated that there have been several complaints by firemen about the 9-1-1 lettering at property entrances while on calls. Everyone is encouraged to use at least 2 inch lettering to identify street addresses at the entrance to their property for more efficient responses in emergency situations.

7. The council agreed to review all city board positions during the next meeting to reappoint old members and appoint new members as needed to fill the positions.

8. The city has received an easement from Northstar to provide a temporary access road to the armory while repairs are being made to the current road. This temporary road will be used for about 60 days while the repairs are being made. This process will begin when weather permits for the repairs.

9. The next meeting is scheduled for February 19, 2013. It was rescheduled due to the Presidents' Day holiday on February 18, 2013.