A five-year plan for reconstruction of city streets was approved by the Milaca City Council at a special June 6 meeting.
The council also approved the sale of $859,000 in bonds to cover costs for those projects through 2016.
Along with that sale the city will do refunding (refinancing) of bonds that is expected to save the city about $40,000.
The first project to be financed by the bonds will be the completion of streets in the Boulder Ridge and Fieldstone Green housing projects that were abandoned by developers.
“Council members didn’t want to do those two on assessment plans so that’s why we have a capital improvement plan,” said City Manager Greg Lerud on Monday.
There are also projects scheduled for 2013 (Southwest River Drive), 2014 (Sixth Avenue North) and 2016 (Eighth Street Northeast and Sixth Avenue North).
The estimate of $859,600 includes construction, engineering, capitalized interest and administrative/legal fees.
For the full story, see the Thursday, June 14 print edition of the Times.