The Trenton City Council Monday night approved a lease-purchase agreement for the modular fire training tower for Trenton, but before the ordinance passed with support from seven councilmen present, there was a discussion about additional costs due to what was called requirements of the lending institution.
The lease purchase is with First Security Finance Incorporated of Little Rock, Arkansas. Community First National Bank of Manhatten, Kansas is the escrow agent.
The city of Trenton will borrow $1,187,734.00 for the four stories, 7,680 square training tower plus the development of the land. The interest rate is four point four one percent during the 20-year loan. Ninety thousand dollars in payments ($45,000 in Aug and Feb) come from the fire department sales tax.
Two weeks ago, the city council approved a $10,000 cost to hire Gilmore and Bell as the special tax attorney. Last night, Gilmore and Bell representative Toni Stegeman reported an additional $25,000 expense is requested from the city for a performance bond, a payment bond, and builders risk insurance. The total of $35,000, according to the attorney, has been rolled into the principal to be borrowed. But Toni Stegeman said she successfully negotiated a lower interest rate of 4.41%, down from 4.68% so that the loan payments can remain the same as planned.
Mayor Nick McHargue stated the interest rate is “excessive” and when it came time to vote, the roll call was unanimous in support of the lease purchase. Absent was councilman Jenn Hottes.
The city council approved the appointment of a new police officer bringing the department up to full staff. Kami Nelson of Cameron is expected to begin duties at Trenton in about two weeks. She’s currently employed with Buchanan County jail staff. Chief Rex Ross said she completed the law enforcement academy in St. Joseph last month and is planning on residing in Trenton.
Councilman Larry Crawford requested consideration be given to lowering the speed limit from 45 down to 35 miles an hour for the portion of Highway 6 from 4th Street to west of the Dollar General intersection. An inquiry is to be made with MoDOT since it’s a state highway.
Councilman Lou Fisher requested police enforce the current 45 mile an hour speed limit. He also called it dangerous for people who’ve been walking both sides of Highway 6 in the vicinity of the new Dollar General store. Discussion moved to sidewalks. City attorney Tara Walker is to research Trenton’s sidewalk ordinance.
City administrator Ron Urton, in response to a question, stated the locks were changed Monday on the city-owned building at the airport that was previously occupied by the former Green Hills Animal Nutrition.
Urton also reported that he anticipates bids will be requested possibly in March for the new 17th Street Bridge, and about the same time, bids are to be sought for asbestos abatement and demolition of nearby buildings owned by the city.