L’Anse refinancing bonds

L’ANSE – The L’Anse village council approved during its regular meeting Tuesday meeting refinancing two bonds, which will provide savings for village taxpayers.

A 1993 water bond originally at 5 percent will be reduced to 3.7 percent, and it has about $1.6 million left on it. A 1996 bond on the village hall originally at about 6 percent with about $600,000 left will be reduced to 3.25 percent interest. Superior National Bank will be purchasing the bonds.

“We’re working to try to make sure we get the best value back to our rate payers and our taxpayers,” Village Manager Bob LaFave said in a phone interview this morning. “It does add up to be a good savings.”

In other business Tuesday, the council:

approved a $40,572.94 draw request through the U.S. Department of Agriculture’s Rural Development program for the village water project. It will cover work by contractor Danielson Construction and engineer U.P. Engineers & Architects for work to date. Work will be done on valves within the next month, which will involve some periodic water shut-offs. It will allow the village to isolate an area of downtown near the L’Anse Waterfront Park.

passed a resolution to opt out of the health care reform provisions from the state, as allowed under Public Act 152. The village is currently in negotiations with its police department union workers. LaFave said a deal is “very close.”

approved a letter of support for the Keweenaw Bay Indian Community in its efforts to seek federal funding for Main and Broad streets, which are the two highest priority roads in L’Anse on the Bureau of Indian Affairs system.