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Council approves two bond issues


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By Jim O'Connor
New Hampton Tribune

New Hampton, Iowa -

    At Monday night's meeting the New Hampton City Council approved sale of two issues of general obligation bonds. Both issues were purchased by Banker's Bank, Madison, Wis., along with Luana Savings Bank, New Hampton.

    Series 2009A, totaling $400,000, will be used for the City's portion of the Main Street renewal for $250,000 and the City's share of $150,000 to be used for purchase of a new fire truck.

    The second issue 2009B, for $1,295,000, will be used to redeem outstanding bonds dated Jan. 1, 1999. The reissue will result in a savings to the City of $78,000, due to a lower interest rate.

    The interest rate on 2009B the larger issue is 3.07 percent and 3.51 on 2009A. There were a total of four bidders on the larger issue and three on the lesser one.

Burn request

    A request for a variance from the City's burn ordinance by Harold Baltes was turned down because of restrictions that are included in the recently adopted city ordinance. The Council agreed to reconsider the wording of the ordinance and also investigate drainage in front of the property that would enable weed control without burning.

Handicap parking

    The Council reviewed location of handicap parking spaces in the downtown area. They decided to change two of the spots.

    On Chestnut Avenue the space adjacent to Mange's Jewelry would be moved across the street next to Bennett Pharmacy. The space on Main Street in front of Quilters Window will be moved to the west side of Locust Avenue adjacent to Boos and Straw Insurance. All other existing spaces will remain unchanged.

Fireworks ordinance

    City Attorney Kevin Kennedy was instructed to draft a new ordinance to regulate fireworks displays within the city limits. Applicants would be required to prove insurance coverage, receive approval from the fire department, receive a city permit and pay a license fee.

Parking change

    The council authorized drafting an ordinance to make permanent two temporary no parking areas in force during the Main Street renovation.

    The affected streets are the east side of South Pleasant Hill from Main Street to Spring Street and the south side of east Hamilton Street across from Stolz Park.  


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