JACKSON TO SAVE $3.1 MILLION ON BONDS

JACKSON -- Jackson has been rated first among 62 cities seeking approval of projects under the State Revolving Loan Program.

Acceptance into the program should save the city about $3.1 million in interest over the life of sewer and water bonds authorized by voters in August 1997.

Public works director Jim Roach told the Jackson Board of Aldermen Monday night that the city actually has been approved for more than the $10.5 million in sewer and water bonds.

"Basically we will be No. 1 in line for the pool of money the state will receive from the federal government," Roach said.

The State Revolving Fund Loan Program provides local governments with federal money to help finance infrastructure projects. Under the fund, the interest rate on sewer projects is 1.9 percent and on water projects 3.85 percent, both well below current interest rates on the open market.

Contracting with specialized firms to study the city's water and sewer systems produced precise cost estimates instrumental in achieving the top rating, Roach said. "We had a big effort by these specialized firms."

Horner and Schifrin of St. Louis did the sewer study, and Burns & McDonnell of St. Louis completed the water study.

"We were able to describe the projects we need, and the state awarded priority points when they received our application," Roach said.

The improvements to the city's water and sewer system are to be made over the next five years. They include the addition of at least one new well, installation of large water mains, boosting filter capacity at the water plant to increase output, and an improved sanitary sewer collection system.

The sewer improvements total $7.375 million, and the water projects will cost $3.165 million.

Roach said the decisions about which cities qualify for the state fund program probably will be made in the summer but he has no doubt Jackson's projects will be funded unless the money for the program was unexpectedly withdrawn.

"Final approval is sure," he said. "We're in."

Roach said construction on the projects could begin in December or sooner.

In other business, the board approved a package liquor and Sunday sales license for the Wal-Mart Supercenter under construction. The license is the last the city can approve under the current census, which allows one package liquor license per 1,000 population.

Jackson Board of Aldermen

Monday, March 1

City Hall

Action items

Power and Light Committee

-- Accepted the bid of Lutesville Motor Company of Marble Hill in the amount of $25,716 and authorized purchase of one 1999 Ford truck for the Water Distribution Department.

-- Authorized final payment of $3,059.03 to Southeast Missouri Regional Planning and Economic Development Commission relative to the city's Comprehensive Plan update contract.

-- Accepted a petition for voluntary annexation of property owned by Equity South L.L.C., and setting a public hearing for 7:30 p.m. Monday, April 5.

Street Committee

-- Approved application for original Package Liquor with Sunday Sales License for Wal-Mart Stores East, Inc., dba Wal-Mart Supercenter #122 at 3051 E. Jackson Blvd.

-- Approved the preliminary plat of Jackson Trail Commercial Park Subdivision as submitted by the City of Jackson.

-- Amended Chapter 4 of the Code of Ordinances relating to animal care and control.