MINUTES OF THE SPECIAL CALLED BENTON CITY COUNCIL MEETING HELD TUESDAY, AUGUST 19, 2014 AT 9:00 A.M. IN THE BENTON MUNICIPAL BUILDING LOCATED AT 500 WEST MAIN STREET, BENTON, ILLINOIS.
MAYOR KRAFT CALLED THE MEETING TO ORDER AND DIRECTED ROLL TO BE CALLED. THOSE PRESENT WERE COMMISSIONER BAUMGARTE, COMMISSIONER WYANT, COMMISSIONER BURNETT, COMMISSIONER MILLER, AND MAYOR KRAFT.
COMMISSIONER BAUMGARTE INTRODUCED BRIAN BUCHHIET FROM HMG ENGINEERS. MR. BUCHHIET PRESENTED DIFFERENT FINANCING OPTIONS FOR FINANCING THE NEW WASTEWATER TREATMENT PLANT. MR. BUCHHIET STATED THAT ONE OPTION WAS TO BORROW ALL THE MONEY FROM THE IEPA. ANOTHER OPTION WAS TO BORROW FROM RURAL DEVELOPMENT. FINALLY MR. BUCHHEIT STATED THE CITY COULD SPLIT THE FINANCING BETWEEN IEPA AND RURAL DEVELOPMENT. THE LOAN THROUGH THE IPEA WOULD BE FOR 20 YEARS WITH AN INTEREST RATE OF 2% AND THE LOAN THROUGH RURAL DEVELOPMENT WOULD BE FOR 40 YEARS WITH AN INTEREST RATE OF 2%. MR. BUCHHIET ALSO PRESENTED THE COUNCIL WITH PROPOSED SEWER RATE INCREASES TO HELP FUND THE CONSTRUCTION OF THE NEW WASTEWATER TREATMENT PLANT.
COMMISSIONER BAUMGARTE STATED THAT THE CITY COUNCIL NEEDED TO MAKE A DECISION AS TO WHAT THEY WOULD LIKE TO DO TO MOVE FORWARD CONCERNING FINANCING OF THE NEW WASTEWATER TREATMENT PLANT. MAYOR KRAFT STATED THAT COMMISSIONER BAUMGARTE AND HE WOULD BE TRAVELING TO CHICAGO IN SEPTEMBER TO PLEAD THE CITY’S CASE WITH THE EDA TO ATTEMPT TO OBTAIN A GRANT IN THE AMOUNT OF $2,000,000.00 FOR FUNDING OF THE WASTEWATER TREATMENT PLANT.
COMMISSIONER MILLER MADE A MOTION TO GO INTO EXECUTIVE SESSION FOR DISCUSSION OF POSSIBLE FINANCING OF THE NEW WASTEWATER TREATMENT PLANT. SECOND BY COMMISSIONER BAUMGARTE. VOTE WAS TAKEN. YEAS: 5. COMMISSIONER BAUMGARTE, COMMISSIONER WYANT, COMMISSIONER BURNETT, COMMISSIONER MILLER, AND MAYOR KRAFT.
TIME: 9:20 A.M.
COMMMISSIONER MILLER MADE A MOTION TO RETURN TO OPEN SESSION. SECONDARY BY COMMISSIONER BAUMGARTE. VOTE WAS TAKEN. YEAS: 5. COMMISSIONER BAUMGARTE, COMMISSIONER WYANT, COMMISSIONER BURNETT, COMMISSIONER MILLER, AND MAYOR KRAFT.
COMMISSIONER BAUMGARTE MADE A MOTION TO PROCEED WITH FINANCING AND GIVE HMG ENGINEERING AND MR. BRIAN BUCHHIET THE AUTHORIZATION TO BEGIN THE PROCESS OF BORROWING MONEY TO FINANCE THE NEW WASTEWATER TREATMENT PLANT FROM THE IEPA FOR 20 YEARS. SECOND BY COMMISSIONER WYANT. VOTE WAS TAKEN. YEAS: 5. COMMISSIONER BAUMGARTE, COMMISSIONER WYANT, COMMISSIONER BURNETT, COMMISSIONER MILLER, AND MAYOR KRAFT.
COMMISSIONER BAUMGARTE MADE A MOTION TO ADJOURN. SECOND BY COMMISSIONER WYANT. VOTE WAS TAKEN. YEAS: 5. COMMISSIONER BAUMGARTE, COMMISSIONER WYANT, COMMISSIONER BURNETT, COMMISSIONER MILLER, AND MAYOR KRAFT. NAYS: 0.
9:45 A.M.
