The Leitchfield City Council on Monday, April 18 approved the first reading of an ordinance to, hopefully, save around $10,000 per year on its remaining debt on the Ronald Hudson Leitchfield Fire Station 1.
During the City Council’s regular meeting on April 18, Chip Sutherland, of Hilliard Lyons, presented a proposal for refinancing the City of Leitchfield’s remaining bond issue on Leitchfield Fire Station 1.
The city currently owes $1,495,000 (subject to adjustment upward by an amount not to exceed 10 percent or downward by any amount) on Fire Station 1.
Sutherland said that, if the bond issue is refinanced now, the City of Leitchfield has the opportunity to save about $10,000 per year, and, given that the last payment date has been set for Nov. 1, 2026, total savings are estimated to be about $110,000.
However, given that market prices fluctuate, if it is determined that the bond issue cannot be refinanced in a manner that will save the city money, the bond refinancing will be postponed until such a time that it can.
Also included in the ordinance was language authorizing the issuance of a maximum principal amount of $3,800,000 of bonds for the new Public Works facility and Ballpark Complex projects; however, officials expect the project cost will likely come in between $3,200,000 to $3,500,000.
The city will sell bonds the week of May 16 and close the sale on June 2.
Christian Juckett, of Rubin & Hayes, provided the first reading of the summary of the ordinance authorizing both the Fire Station 1 bond refinancing and the Ballpark Complex and Public Works facility bond issuance.
The City Council approved the first reading of this ordinance.
In other business:
*The City Council approved a change order for the Leitchfield Ballpark Complex parking lot.
Per the approved change order, the parking lot, which was not bid out due to the city’s annual contract with Scotty’s Contracting and Stone, will cost a maximum of $216,750; however, City Finance Officer Erin Embry said that officials expect the parking lot bid will come in lower than that.
*The City Council voted to turn the Babe Ruth program back over to Grayson County Schools per Leitchfield Mayor William Thomason’s recommendation.
*The City Council voted to close Leitchfield Public Square earlier on Friday, July 15 for the Freedom and Fiddling Festival, pending approval from the Kentucky State Highway Department.
The city is looking to celebrate Leitchfield’s 150th birthday on Public Square on that Friday evening.
*The City Council voted to declare a Chevrolet Silverado, owned by Leitchfield Public Works and totaled in April of this year, to be declared surplus property.
The City Council also voted to permit Public Works to scrap the vehicle after it has been declared surplus.
Public Works was paid $3,927 from insurance for the vehicle—more than $1,000 over what the city originally paid for the vehicle.
*The City Council approved a request from Girl Scouts Junior Troop 33 to install a “buddy bench” at the softball complex to spread the message of inclusion and kindness.
Troop 33 will coordinate with Public Works Director Sheila Puckett to determine a location for the bench.
*The City Council voted to permit Bobby Burden, of Boy Scouts Troop 631, to set up signs along the James D. Beville Park walking track identifying plants and trees.
Burden plans to plant around 20 posts around the park.
*Leitchfield City Councilmember William Dallas announced that the Leitchfield girls softball program will begin Monday, April 25.
*The City Council tabled a discussion about whether to deny a zone change from R4 to R5 based on the recommendation of Leitchfield Planning and Zoning.
*The City Council voted to spray for mosquitoes in Leitchfield.
*The City Council approved a change order for American Legion Post 81 Veterans Memorial Park.
Reach Matt Lasley at 270-259-9622, ext. 2015.