Metamora Approves Addendum On Water Contract, Lower Interest Costs On USDA Loans

By: James Pruitt
THE VILLAGE REPORTER

The Metamora Village Council approved an addendum on the water contract.
To satisfy all parties, Fulton Public Utilities Director Ziad Musallam can revise the addendum to read “….20-year renewal option is available any time after 17 years from March 15, 2016.” The 20-year term is used to match the current service term agreement between Fulton County and Toledo.
Metamora’s option to continue with Fulton County water supply (or not) is identified in Part III – Item 3 of the current agreement.
Fiscal Officer’s Report –
•Letters have been sent to residents with second meters informing them of the new sewer credit policy.
•No dogs allowed inside fence, signs have been ordered along with (2) signs: All pets must be
•Kate Fischer of Metamora State Bank said the village could get municipal bonds with unlimited maximum. This means Metamora could get USDA loans refinanced for $900,000 through bonds. The village needs $911,000 but it has $11,000 in capital outlay that could pay the $11,000. The bonds would be at an interest rate of 2.7 percent. Refinancing for 20 years through bonds would save about $450,000 in interest. It would increase total annual payments by $10,000.
•Steve Giese has signed work agreement and provided a copy of Sewer 3 license. He has been working since Chip has been on vacation.
•Zoning Inspector may have to resign due to OPERS retirement restrictions on health care. Sue has contacted the Village Administrator of Swanton to get information on their Zoning Inspector. They have a part-time inspector that may be willing to work with Metamora too.

James Pruitt may be reached at
publisher@thevillagereporter.com

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