Bond issuance and sale approved for Bay water, sewer infrastructure projects

Approved was Resolution R-35-24, authorizing the sale and issuance of up to $2,026,050 in Series 2024 sewerage system revenue bonds, and the passage of Resolution R-36-24, authorizing the issuance and sale of up to $3,682,950 in Series 2024 water system revenue bonds, as well as related approval of a $4,452,950 financial assistance agreement.

The $2,026,050 sewer bond project to replace Lift Station No. 3 at East Geneva Street and Harris Road is a Wisconsin Department of Natural Resources (DNR) Clean Water Fund Program with a 2.145% per annum interest rate, with a final maturity date of May 1, 2044.

The principal repayment schedule calls for payments of $87,500.85 in May 2026, $89,377.74 in May 2027, $91,294.90 in May 2028, $93,253.17 in May 2029, $95,253.45 in May 2030, $97,296.64 in May 2031, $99,383.65 in May 2032, $101,515.43 in May 2033, $103,692.94 in May 2034, $105,917.15 in May 2035, $108,189.07 in May 2036, $110,509.73 in May 2037, $112,880.16 in May 2038, $115,301.44 in May 2039, $117,774.66 in May 2040, $120,300.93 in May 2041, $122,881.38 in May 2042, $125,517.18 in May 2043 and $128,209.53 in May 2044.

Interest will total $497,312, bringing the final cost of the $2,026,500 project to $2,523,362.

With the $4,542,950 water treatment facility improvement project eligible for $860,000 in principal forgivements under the Wisconsin DNR Safe Drinking Water Loan Program, the loan calls for $3,682,950 in bonding with a 2.145% per annum interest rate and a final maturity date of May 1, 2044.

The principal repayment schedule calls for payments of $149,401.86 in May 2025, $152,606.53 in May 2026, $155,879.94 in May 2027, $159,223.57 in May 2028, $162,638.91 in May 2029, $166,127.52 in May 2030, $169,690.95 in May 2031, $173,330.82 in May 2032, $177,048.77 in May 2033, $180,846.47 in May 2034, $184,725.62 in May 2035, $188,687.99 in May 2036, $192,735.35 in May 2037, $196,869.52 in May 2038, $201,092.37 in May 2039, $205,405.80 in May 2040, $209,811.76 in May 2041, $214,312.22 in May 2042, $218,909.21 in May 2043 and $223,604.82 in May 2044.

Interest will total $869,931, bringing the final cost of the project bonding to $4,552,881.

In other infrastructure news on June 17, trustees passed Resolution R-38-24, authorizing a $12,432 change order from St. Paul, Minn.-based TMI Coatings for the village’s lime reactor cleaning and painting project, increasing the project cost from $343,000 to $355,432. The change order will be funded through General Fund contingency.

Trustees also passed Resolution R-38-24, authorizing an $18,800 work order with Burlington-based Village Engineer Baxter & Woodman Consulting Engineers to prepare a village hall site survey for a proposed new cellular communications tower development.

Under the work order, Baxter & Woodman would conduct a comprehensive due diligence American Land Title Association (ALTA) comprehensive land title survey on the village-owned site. The work order includes project management, a review of feasibility otions and lease area recommendations.

The proposed cell tower would relocate existing carriers from village water towers and also add new carrier Verizon to expand cell coverage and services in the 2,953-resident village.

The goal of the study is to identify a minimum 150-square-foot area suitable for leasing for the development of a self-supported antenna structure for multiple cell carriers.

At a special village board meeting on June 24, the Williams Bay Village Board approved the issuance of a temporary operator’s license to Williams Bay resident Anne Marie Gump for the Kishwauketoe Nature Conservancy’s June 30 retirement party for KNC founder, former board chairman and longtime board member Harold Friestad.

Board members also approved waiving children’s beach fees for the Barrett Memorial Library’s Reading on the Beach program for the 2024 season.

Upcoming 2024 election dates are Tuesday, Aug. 13 for the primary election, and Tuesday, Nov. 5 for the general election