City Financing In Place For 17th Street Bridge

The city’s portion of financing for the new 17th Street Bridge has been finalized following action taken by the Trenton City Council on Monday night.
Council members unanimously approved an ordinance, allowing the city to enter into an agreement with Security Bank of Kansas City to provide funding for the city’s cost of the new structure over a 10-year period. The money would be repaid through the city’s transportation tax, approved by voters in 2017 and which will sunset in 2027.
The city is borrowing $1,411,617 at an interest rate of 4.42 percent, but is responsible for $1.5 million of the bridge cost. The Missouri Department of Transportation and Union Pacific will also be providing funds for the project, which has been estimated to cost around $3.5 million. A Community Development Block Grant has also been awarded for the project.
The loan agreed to by the city would generate $350,883 interest over the 10-year financing period. The city would be able to pay off the loan early, which would reduce that interest amount.
In a related matter, City Administrator Ron Urton told the council six easements have been signed regarding property needed for the bridge project after an appraisal meeting last week with nine individuals. Another meeting with property owners is scheduled for Wednesday from noon to 6 p.m. in the Ketcham Community Center.
The council approved six ordinances involving adoption of the 2015 International Building Codes as well as updating existing related city codes. Five of the ordinances were approved on a 7-0 vote while the sixth was approved 6-1, with Councilman Brad Chumbley voting no, stating his opposition to an addition to existing codes involving the use of search warrants to gain access to properties believed to be in violation of city code. Jennifer Hottes was absent from the meeting.
An ordinance authorizing a contract with Gary Jordan for use of the north end of the large hangar at the Trenton Municipal Airport was approved. Jordan will pay $250 per month over a 12-month period.
Also approved was a bid from Horton Dozing for the purchase of 4,050 tons of rock for the north lagoon rock blanket at a cost of $97,200. It was the lowest of two bids received.
Councilman Glen Briggs, who also serves as the county’s emergency preparedness director, said that over 3,800 individuals have subscribed to the mass notification system, which provides emergency alerts via telephone. The number includes 383 cell phone users who have opted into the system. Persons can sign up for the program at www.GrundyMoAlert.com. There is no cost to participate.
In other business, the council:
• was told the fire department’s new ladder truck has officially been put into service, with an open house being planned for the public to view the new vehicle.
• was told painting was nearing completion on the Iowa Boulevard water tower and that work on the Princeton Road tower is scheduled to begin in mid-August.
• was told one application has been received for the police chief’s position. The deadline to receive applications is Aug. 17.
• heard an update regarding electric, wastewater and water usage income as well as being told that the city of Milan was purchasing around 141,000 gallons a day from the Trenton water system.
• heard from Mayor Dr. Nick McHargue about concerns he has as to whether or not the city is receiving its fair share of benefits from taxes being paid to the county and township.
The council was also scheduled to hear from Debbie Kinnison regarding the city’s cat ordinance, however, Ms. Kinnison did not appear at the meeting.