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The city council voted unanimously to
accept the final three bid packages. Bid package two was awarded to
Femly-Dickson for $6,112,000. Bid package three went to Anderson
Electric at $1,149,380. Bid package four goes to AMCO Industries at
$31,993.
During the bidding process, IEPA found
56 additional items to add to the project. Plant manager Grant Eaton
from Environmental Management Corporation said that he was able to
get the list down to only four, thereby reducing the additional
costs. The increase totaled $375,582, less than 4 percent of the
original estimate of $10,066,297. The final bid cost is now
$10,441,879. There is a $237,000 contingency built in for possible
cost overruns, and whatever is not used will be returned.
City Engineer Mark Mathon said they
hope to hear back from IEPA next week and have contracts signed by
the end of the month. If all falls in place, construction could
begin by mid-October.
Eaton invited aldermen to join him and
Robin Johnson from EMC when they take a trip Washington, D.C. in the
near future. They plan to talk with senators and congressmen of both
parties, seeking funding for this project and possibly for the
proposed industrial park.
[to top of second column in
this article]
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In other actions on Monday evening the
council approved a request by Robert Kidd, District 27 school
superintendent, for a four-way stop at Seventh and Union streets.
However, the request by residents near
Ninth and Elm streets for a four-way stop was denied.
It was decided to provide one day of
labor at the Logan County Fairgrounds for their yearly chip-seal
fill on roadways. The fairgrounds will reimburse the city for
material costs. Alderman Steve Fuhrer was the only dissenting vote,
saying that he didn’t think the city was financially stable enough
right now.
With an acceptance of a recommendation
to increase the electrical wire size needed in the Wyatt Avenue
lighting project, the bidding for the project materials has been
reopened. It was felt that this would give opportunity to local
businesses to win the bid.
Council
members began kicking a new idea around. It was suggested that the
city might hire a lobbyist. The county could be approached and the
lobbyist could represent both Lincoln and Logan County interests. It
was agreed that to get good people you will need to pay a little
more.
[Jan
Youngquist]
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"Illinois College Savings Bonds are an
excellent investment option for families who want to plan ahead and
invest in their children’s college education," Ryan said.
"In addition to being exempt from state
and federal tax, College Savings Bonds benefit parents by providing
a cash bonus when the proceeds are used for educational expenses at
an Illinois college or university."
Illinois College Savings Bonds are
zero-coupon bonds. Individual bonds will be offered at discounted
prices that are estimated to range from $1,800 for a 22-year bond to
$4,750 for a three-year bond, depending on market conditions at the
time of the sale. Each bond will pay $5,000 at maturity.
Illinois College Savings Bonds are
exempt from federal and Illinois income taxes, and the purchase of
up to $25,000 in bonds will not reduce eligibility for certain state
assistance and loan programs.
The state expects to sell an estimated
$140 million in maturity value of bonds. Morgan Stanley is the
senior underwriter for the sale. Other underwriters include A.G.
Edwards and Sons, Inc.; Banc One Capital Markets, Inc.; Edward
Jones; Fidelity Capital Markets; Harris Trust and Savings Bank;
LaSalle Capital Markets; Merrill Lynch & Co.; Prudential Securities;
RBC Dain Rauscher Inc.; and UBS PaineWebber Inc.
Illinois College Savings Bonds are
available from these underwriters at their offices in more than 600
Illinois communities and also may be available from other brokerage
firms.
People who
use bond payments to pay for higher education in Illinois may
receive a bonus from the
Illinois Student
Assistance Commission. If the monies are used to fund higher
education expenses at an Illinois college or university, the bonds
at maturity pay a bonus ranging from about $60 to $440 per bond,
depending on the maturity date.
[Illinois
Government News Network
press release] |
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