Broken Bow City Council Approves No Parking Ordinance, Discusses Bonds, and Annual Audit

Broken Bow City Council Approves No Parking Ordinance, Discusses Bonds, and Annual Audit
Piper Sandler Senior VP Brad Slaughter speaks before the Broken Bow City Council on March 22 regarding the potential to refinance city bonds.

BROKEN BOW–After a motion to postpone during the last meeting, the Broken Bow City Council voted to approve the Memorial Drive Project during the March 22 meeting. A public hearing was held regarding the Memorial Drive Paving and Storm Sewer Improvements and the bid was of $1,088,911.90 was approved to Myers Construction in Broken Bow.

The council then approved an amendment to the Owner-Engineer Agreement with JEO Consulting Group, Inc. The estimated start date for the project is July 1, 2022.

Under new business, the council approved the annual audit report for the year ending September 30, 2021. Jeff Oeltjen of Dana F. Cole & Co., LLP presented the audit report which was approved by the council.

Jeff Oeltjen of Dana F. Cole presents the annual audit report

The 2021 Tax Increment Financing (TIF) Annual Report was also approved.

City Administrator Dan Knoell said when you look at the reports, the city is being responsible with the utility and tax payer funds.

“The city of Broken Bow is responsible with the funds. We’re not just out there reckless spending and so I think that the taxpayers and the rate payers need to see that and so I’m glad this is held in a public meeting because the city is being very responsible with the money,” Knoell said.

Public hearings for General Obligation (GO) Various Purpose Bonds (series 2017) and GO Various Purpose Refunding Bonds (series 2022) were held and were followed by the approval of a resolution and an ordinance. Piper Sandler Senior Vice President Brad Slaughter told the council the bonds are legally callable in December and can start the process of refinancing with lower interest rates–if applicable–in order to save the city money.

In an interview with KCNI/KBBN, Knoell said it is import for the city to look at long-term gain and make changes–or not make changes–depending on interest rates.

“The most important part is to look long-term and how much we can save the tax payers because bonds are expensive, they can be expensive and interest rates affect that drastically. And so the reason for these bonds being recalled at this time (which is a very common thing, we just did it last year for I believe it was the pool bond) and so the more we re-fi [refinance] the more money we save for the taxpayers,” Knoell said.

Also on Tuesday night the council voted to add the office of utility clerk and approved the appointment of Katie Hogg as the utility clerk (she previously served as the utility secretary/bookkeeper). Following the appointment, an amended wage ordinance was approved.

A NO PARKING ordinance prohibiting parking on the north side of North B Street between 5th Avenue and 6th Avenue was discussed and approved following a public hearing. Knoell said the area northeast of the sale barn is often utilized by trucks and trailers but sometimes blocks access to the Broken Bow Municipal Utilities building. He requested a no parking zone after talking with the Broken Bow Police Department to prevent issues during an emergency.

The meeting adjourned at 6:52 p.m.

The next city council meeting will be on Tuesday, April 12 at 6 p.m.

Broken Bow City Council March 22, 2022
Broken Bow utility building on North B. NO PARKING ordinance approved on North B between 5th and 6th Avenues. (northeast of sale barn)