City OK’s $17.3M for fountain, city projects

The city of Elyria has approved selling notes and bonds to finance several city projects, including rebuilding the fountain at Ely Square.

Officials voted April 17 to moved forward with issuing $900,000 in debt to finance the construction of a new fountain at Ely Square and clearing, improving and equipping the site.

“We are raising private funds to rebuild the fountain in Ely Square as part of the legacy project apart of the Bicentennial and we are taking up to fiveyear pledges,” Mayor Holly Brinda said. “We are asking individuals, corporations and foundations to make either an outright gift or a pledge up to five years and sign a contract.”

Brinda announced about a year ago plans to reconstruct the fountain. The mechanics and infrastructure are failing and the city wanted to make sure it had a nice fountain for the Bicentennial.

If the city were to wait on collecting the contracts, it would receive a new fountain in five years, according to Brinda.

“This will allow us to construct a new fountain before we collect all the pledges,” she said.

The city will pay off the debt through private philanthropy and will continue to reissue the notes until the fountain is paid off, Brinda said.

“We are not using public money to fund the project, we are soliciting from private donations,” she said.

The city will not execute those notes until pledge contracts are in place.

With input from the community, the new fountain will have three tiers and modern LED lighting.

In addition, officials also approved issuing a number of short- and longterm debt instruments, totaling $17.3 million.

• $550,000 in notes to pay for the cost of acquiring a new radio system for the police department

• $900,000 in notes to pay for the cost of improving the city’s storm water management system by constructing and improving storm water drainage facilities including storm sewers and facilities for the retention and control of waters

• $1.3 million in notes to pay for the cost of acquiring refuse packer trucks, recycling trucks, containers and related appurtenances and equipment for use by the City Sanitation Department in the collection and transportation of solid waste

• $1.5 million in bonds for the purpose of refunding for debt charges savings certain of the city’s outstanding street improvement bonds

• $1.5 million in bonds for the purpose of refunding for debt charges savings certain of the city’s outstanding municipal court improvement bonds

• $3 million in bonds for the purpose of paying a portion of the cost of energy conservation measures consisting of installations or modifications of installations in, or remodeling of, existing city buildings, to reduce energy consumption

• $7.5 million in bonds for the purpose of paying costs of improving the city’s sanitary sewerage system by constructing improvements to and equipping the wastewater pollution control plant and lift stations and constructing and improving sanitary sewers and sanitary facilities.