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Mason City seeks up to $1.6 million in general obligation bonds for upgrades

City Hall in Mason City
City Hall in Mason City

MASON CITY – The Mason City council will soon decide on issuing $1.6 million in general obligation bonds for a range of upgrades to various city assets and departments.

The Mason City council will hold a public hearing on July 19, 2016 and consider at least three general obligation bond proposals, totaling up to $1.6 million.

The council proposes to take additional action for the issuance of not to exceed $700,000 General Obligation Bonds, for general corporate purposes, with an interest rate of not to exceed 9 per cent. The bonds to be issued would provide funds to pay the costs of improvements at city hall and the museum.

Brent Trout
Brent Trout

City Administrator Brent Trout tells NIT that “The City is doing a major project to retrofit and upgrade our heating and air conditioning system in City Hall. There is $660,000 of this sale to add to money approved last year for the project. The Museum is spending $20,000 on gallery lighting improvements.”

Also, the council proposes to take additional action for the issuance of not to exceed $600,000 General Obligation Bonds, for essential corporate purposes, to provide funds to pay the costs of equipping the police and fire departments, acquisition of ambulance equipment, airport paving improvements, and street improvements.

Lastly, the Council proposes to take additional action for the issuance of not to exceed $300,000 General Obligation Bonds, for general corporate purposes, bearing interest at a rate of not to exceed 9 per cent. The bonds to be issued would provide funds to pay the costs of police station and site improvements, and acquisition of equipment for the city’s cemetery.

Mr. Trout says the council packet memo for the July 5th meeting will have the complete breakdown of all the General Obligation Bond projects.

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