Cold Spring Council Takes Up $5 Million Bond Sale for New City Hall, Police Department

(KNSI) — The Cold Spring City Council takes up a $5.075 million bond sale for its new city hall and police department Wednesday, along with a round of street repair decisions.

The centerpiece requests the Cold Spring Economic Development Authority issue $5.075 million in lease revenue bonds to finance construction of the new City Hall and Police Department building. The bonds carry an estimated interest rate of 4.87%. Northland Securities is scheduled to present the results of the bond sale, which takes place the same day, before the council votes on the terms. Three financing documents are tied to the resolution: a lease agreement, an indenture of trust, and a ground lease.

The remodel project itself comes back to the council as a change order. Staff recommends approving it for a net increase of $4,400.16 to remove and replace drywall on the building’s exterior walls. The project has already turned up unexpected costs, including $8,300 for asbestos removal, which the council approved in July after crews found the material in the flooring.

Fire Chief Dan Weber brings several items forward. The council will consider hiring two firefighters, Kristopher Reyes and Logan Schmitt, contingent on their passing a physical examination. The department is also clearing out old equipment. Staff recommend selling a 2009 Ford ambulance for $175, a vehicle that was donated to the city, is no longer operable, and is described as good only for parts. A 1979 Ford Pierce pumper truck would also be sold for $5,005. The department is also requesting to purchase 26 sets of wildland gear from FES Inc. for $17,290, to be paid from public safety grant funds.

On the public works side, Director Jon Stueve recommends hiring Lange Trenching to repair two storm pipes that have heaved over the years, creating large bumps in the road. One sits near 1801 River Links Drive and the other near 307 17th Avenue South. The total cost is $35,321.50 from the street repairs budget. Stueve also notes the 3rd Avenue Southeast reconstruction project has been moved up to August 17th.

The meeting begins at 5:00 p.m. August 12th at the District Education Facility in Room 248.

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