Rib Lake board approves borrowing for water tower

The water tower for the village of Rib Lake is scheduled to be overhauled later this summer.

At the July 9 Rib Lake Village Board meeting, members formally approved the financing to pay for the work to be done. In April, the village board had awarded the project to LC United Painting Company of Sterling Heights, Mich. at a price of $520,000.

Last week, the village board approved authorizing the issuance and sale of up to $365,435 water system revenue bonds. The 20-year bonds have an effective rate of 1.485% and are backed by revenue generated by the water utility. The village’s rate was lowered due to a state financial assistance agreement valued at $730,870 over the length of the borrowing.

Given the low interest rate, which is less than the interest earned on certificates of deposits on reserves held by the village, village president Bill Schreiner noted there is no sense in paying the loan off sooner.

Board member unanimously approved issuing the bonds for the water tower project.

In other business, board members:

• Approved offering the village Argo for sale. The amphibious vehicle had been used for maintenance of the dike and ditches, but has not been used in a number of years and has fallen into disrepair. Schreiner noted that when the village got it they had a need for it, but that need has been replaced by other tools. Rather than spending more money to make the repairs needed to make it functional, board members decided to sell it.

• Approved placing concrete slabs for covered picnic tables near the fishing piers and boat landing areas along the lake. The project is headed by Gary Polacek who plans to work with the school to see if the benches similar to those at the Ogema baseball field can be built by the shop classes. The benches would then be placed on the slabs put in by the village. “I am for it, but we need more details and need to know exactly where they will go,” said board member Bryan Marschke. Board members ultimately approved committing to install the slabs contingent on the benches being built and the exact locations where they will need to be placed. It was felt that given the relatively small size, the village crew could do the work.

• Received an update on camping in the village campground. The ongoing wet weather had hurt camping in the village. However, while it is down compared to last year, groups staying in the campground has been steady. “The weather has hurt the camping situation,” said board member Clifford Mann.

• Approved the street closure and waiving the open container restrictions for Rib Lake Ice Age Days which will be held August 8-10. The street closures are one less than normal due to road work being done.