Velva city budget finalized

10/15/08 (Wed)

The Velva City Commission approved its 2009 budget at a meeting last week, and conducted several other items of business at its regular meeting this past Monday night.
In the budget, the city had a only a small increase in the total levy, taking it from $147,208 in 2008 to $147,828 in 2009.
At this week’s regular meeting, Maria Effertz Hanson, McHenry County JDA, was on hand to update the commission on the Safe Routes to School grant.
The initial route has now been changed, according to Hanson, and will include a flashing light across Main Street at the corner of the Velva Senior Citizen Center. The grant application will propose a new sidewalk on the south side of Second Avenue, stretching from Main Street to the school. Engineers will look at the property to see if the construction is feasible.
The commissioners also voted Monday night to pay off a 1995 water main improvement bond, which was refinanced in 2001. The bond has a remaining balance of $50,000, and by using the designated funds from the 30/50 fund of $48,200, and making up the difference from the general fund, the city can pay off the bond and save $2,388 in interest. The bond was financed by a $2 fee on residents’ water bills, and that fee will continue until the general fund money is replaced. Once that is done, the fee will be removed from local water bills. In addition, the city incurs no fines for paying the bond off early.