HUMBOLDT — Good timing paid dividends for the city of Humboldt.
Reissuing of about $1.5 million in bonds resulted in an interest savings of around $371,000 and shortened the payment schedule by six years, an 18.5 percent savings on its overall payment.
City administrator Cole Herder noted that a transaction considered last fall would not have had the same favorable result.
The bonds are paying for renovations at city hall and the municipal pool and improvements to the city’s water lines.
Humboldt received an A rating from S&P and Tyler Ellsworth, Kutak Rock of Kansas City, Mo., legal counsel for selling the bonds, said the city’s management aided with the process.
Council members extended Herder’s contract for two years.
“We recognize the hard work you put in. More than that, we recognize the heart you put in,” said Mayor Nobby Davis.
Herder, who took the position in June 2014, said, “This is one of the best career moves I’ve ever made.”
Before the meeting, the council appointed Sarah Hart to replace Ashleigh Dooley, who resigned because she moved out of the city limits.
In Herder’s report:
• Three of four water plant operators were quarantined for 10 days after one tested positive for COVID-19. He is working with attorney Fred Works on an administrative policy that will establish and document how to handle a modified quarantine for employees required for critical situations.
• City Hall and all city facilities remain closed to the public, except for appointments for things that cannot be handled otherwise.
• Vaccines will be coordinated when they become available for workers in essential or critical infrastructure who wish to receive them.
• Milson Property, 415/417 Bridge: Objective is to convert a blighted property into a tax generating new home.
• Low Income Energy Assistance Program: LIEAP is taking applications through March 31 for assistance with energy bills. Low income is considered $1,383 per month for a single-person
household and increases approximately $486 per each additional person. Residents can get information and assistance at City Hall.