Village of Redgranite approves $507,842 borrowing resolution
Redgranite Village Board approved a borrowing reso-lution of $507,842 from Hometown Bank during their regular meeting on July 18. The 20-year loan has an interest rate of 2.9 percent, with $29,660.29 payments to be made twice a year.
Village Clerk Christy Groskreutz told the board she worked closely with Hometown Bank repre-sentative Jody Jansen and MSA Professionals Accountant Mary Wagner to get the loan processed and completed. Village President Belinda Passarelli added, “a lot of work went into it; Hometown Bank did a good job” assisting with the process.
At the June Village Board meeting, MSA Professionals Accountant Mary Wagner gave her audit report to the board, recommending the board apply for the loan to repay TIF 1 and the sewer fund. Wagner told the board after TIF 1 is reimbursed, there will be more money available to do local projects.
The board also decided not to erect a sign that would limit swimming in the quarry from Sept. 15 to May 15. The suggestion to restrict the swimming during the eight-month period was made by board member Joan Kapp in the fall of 2016, after seeing children swimming in the quarry on a cold morning.
Following discussion at the June board meeting, the board asked Village Attorney Joan Olson to review and give clarification about the swimming restrictions. Olson responded restricting the swimming season “could result in an ordinance which would be difficult for officers to issue tickets and uniformly enforce.”