By Teri Walker–
A new pump truck for the fire department, a 50,000- gallon water tank for Sun Valley and a ditch witch for the golf course are among the items City of Holbrook personnel are hoping to acquire in the next five years.
During a budget meeting held Tuesday evening with the Holbrook City Council, City Manager Ray Alley and Finance Director Randy Sullivan presented a summary of capital improvements needed within the next five years, along with a summary of debts the city owes.
The reports were requested by Mayor Jeff Hill during the previous budget meeting, and represent the final materials being developed in anticipation of adopting the tentative fiscal year 2012 budget on July 12, and the final budget in August.
Other needed capital items and infrastructure the city has identified include a security system and new lift station for wastewater facilities, a new well in Sun Valley, tamper attachments and a riding mower for the Parks & Recreation Department, a building to house equipment and a fertilizer hopper for the golf course, and 10 new vehicles for the Holbrook Police Department, among other things. The capital wish list does not include estimated costs for any of the items.
The summary of debts owed by the city total $658,117. The bulk of the bill is $439,000 owed on Holbrook’s wastewater treatment plant. The city accepted funding from two low-interest federal loan programs in 2001 to pay for the design and construction of the $4 million plant, and voters passed a one percent sales tax to pay for it. The debt will be paid off in 2020.
Another $62,000 is owed to 1st Source Bank for equipment purchased for the city’s water and wastewater system this year. The bank loan is scheduled to be paid off in 2015.
The only other debt owed by the city is in the form of two lines of credit extended by Bank of the West, which total approximately $157,000.
The combined original amount of the Bank of the West loans was nearly $989,000. The credit was drawn for purchases of a variety of equipment, including a dump truck for sanitation, pickup trucks for golf course and parks personnel, police vehicles and equipment, a forklift and more.
Both of the Bank of the West lines of credit will be paid off in 2015.