LITCHFIELD -- As part of a three-pronged financing package involving $580,000 worth of general obligation bonds, the Litchfield City Council approved Monday to finance $500,000 toward the Bernie Aaker Auditorium renovation project with Meeker County and the Litchfield School District.
"It was one financing package that lumped several things together," City Administrator Bruce Miller said Tuesday about the resolution. "It put kind of a conclusion to all three of them where they all can move on." The financing plan was introduced in detail to the council during Monday's public hearing, Miller said.
The city of Litchfield was the last government entity to make its final financial approval for the renovation project. Both Meeker County and the Litchfield School District had reached a financial agreement in October to supply their shares toward the $1.5 million price tag. Meeker County will loan the school district $500,000 with 5 percent interest over the next five years.
Construction for the renovation of the 850-seat auditorium is expected to begin in February following the awarding of bids for the project, according to previous interviews with county and school district officials.
In addition to financing the renovation project, the general obligation bonds approved Monday by the Litchfield City Council also will aid in the creation of a pipe system that will transfer water from Lake Ripley to a holding pond at Litchfield Golf Club.
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General obligation bonds may be issued by a city or other government entity based on its faith and credit. That government is obligated to repay the bond, even if that requires using taxing power.
Miller said $350,000 will go toward the piping system and holding pond at the golf course. The holding pond, Miller said, would be used to water the links when groundwater was not available for the irrigation demands of the golf course in the summer.
"Rather than pumping water from Lake Ripley, we'll actually be just running it by gravity into the pond and using it for golf course irrigation," Miller said. The city administrator said the city has a Department of Natural Resources permit to perform such a transfer from the lake to the golf course.
Making up the last prong of the financing package, Miller said the city would finance $200,000 toward additional pieces of city equipment including a wheel loader, a skid loader and an ice resurfacing machine.
In July, Miller said the Litchfield Civic Center's ice resurfacing machine, commonly referred to by the popular brand name Zamboni, was heading into its 14th year in good condition but nearing the end of its serviceable life. The council approved the idea of purchasing a new one during its July 16 regular meeting.
