Council approves loan to purchase new wheel loader for street department

McCOOK, Neb. — Financing for a 2020 wheel loader for the City of McCook street department will be done through MNB.

The total amount being financed is $114,040 with a 3.75% interest rate. In the loan agreement with MNB, the four annual payments will be approximately $31,201.06 with the first payment due on Nov. 1, 2020.

Other rate quotes came from Horizon Bank, 3.79%; First Central Bank, 3.85% and Pinnacle Bank, 3.95%.

The McCook Council Monday night ratified the loan agreement as a consent agenda item, with no discussion.

Other consent agenda items the council approved in one motion included:

- Authorized the Mayor to sign the annual certification form confirming that funds received by the City of McCook from the State of Nebraska Department of Transportation, as part of the Federal Aid Transportation Fund Purchase-Sale Agreement, have been used according to such agreement.

This program allows first class cities in the state to agree to receive .90 cents of state dollars for every $1 of federal dollars that would have been originally allocated. The goal is to reduce the time and the costs of road projects by eliminating some of the federal requirements that in the past have delayed projects and increased costs.

In 2019, $275,000 was used to fund the first of three installments the City of McCook is responsible for in the U.S. Highways 6/34 /Highway 83 project. Another $229,675 was used to help fund the Park Avenue rehabilitation program that was completed this past year.

- Adopted Resolution No. 2019-14 authorizing the signing of the year-end Certification of City Street Superintendent Form 2019: The city receives $6,000 annually from the Nebraska Department of Transportation in incentive funds and contracts with Greg Wolford, current city street superintendent, to provide these services.

At the beginning of Monday night’s meeting, the council heard from Dawson Brunswick, director of the McCook Area Chamber of Commerce, on the proclamation of designating Saturday, Nov. 30, as “Small Business Saturday.”

Brunswick said this is the 10th year for “Small Business Saturday” that was created by the credit card company, American Express. Brunswick said the event will kick-off the Chamber’s area Christmas promotions and that he will be at the Keystone Hotel on Nov. 30 with free give-aways.