(Beaver Dam) The Beaver Dam Common Council Monday night approved borrowing totaling $6.3-million dollars to fund various municipal projects. Robert W Baird was the low-bidder in the sale of $4.17-million in bonds at an interest rate of 3.26-percent. Baird was also the low bidder for $2.16-million in taxable bonds. City Finance Director John Somers says the bonding will be used to fund projects in two Tax Increment Finance District’s along with various utility projects and Beaver Dam’s 2019 Capital Improvements Plan.
The CIP includes $1-million dollars for road projects including Roosevelt Drive, Haskell Street, Stone Street and the downtown alley just north of Front Street. Other purchases with the borrowed money include $250-thousand dollars for a replacement ambulance; $200-thousand dollars for a parking lot for the new northside soccer field; and $40-thousand dollars in partial funding for a police shooting range. Another $181-thousand-dollar is being directed to downtown revitalization.