Neillsville City Council Accepts Loan Bid
Friday, March 31st, 2017 -- 9:04 AM
-The Neillsville City Council accepted a loan bid at their meeting on Tuesday.The city asked for bids for a $375,000 loan for the public works department, so they can buy some much needed equipment. They received three bids. One was from Unity Bank with a 3.64% interest rate for a 5 year loan. Another was from Associated Bank with a 2.78% interest rate for a 5 year loan and a payment of $79,405.44. And the final was from Citizens State Bank with a 2.45% interest rate for a 5 year loan with an $80,600 payment. The council approved the bid from Citizens assuming a clarification is made with their payment.
They also gave permission to the Public Works Director to start to purchase some of the items the department needs. Dave Flynn already has a hold on several items, but if he waits any longer, he’ll lose the hold. The council approved these items first during the Public Works portion of the meeting and again during the regular Common Council meeting.
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