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Thursday, April 17, 2008

Council Told of Water Loan Options

By By Laura Nesbitt /
Mountain View Telegraph
      The Moriarty City Council heard several options for a loan-grant program to build, repair and improve public water and waste collection and treatment systems through the U.S. Department of Agriculture Rural Development program.
       “The money is available now” but only after receiving a preliminary engineering report and an environmental report from the city, Community Programs Director Martha Torrez told councilors Tuesday on behalf of state Director Ryan Gleason.
       Money offered to municipalities through the federal program is currently at 75 percent loan and 25 percent grant funding, Torrez said.
       Possible scenarios for USDA funding outlined by Torrez at 4.5 percent for 40 years included:
       n A $3 million loan that would require an annual payment of $163,029 from the city.
       n A $1.5 million loan that would require an annual payment of $81,514 from the city.
       n A $700,000 loan that would require an annual payment of $38,040 from the city.
       Based on the number of commercial and residential users in the city, Torrez said, she could let the council know “what they would have to charge their users to meet the debt.”
       In other city business:
       n Fire Chief Dave Cohen told councilors that members of the Moriarty Fire Department are organizing a benefit dinner to raise money for medical expenses for the family of Nichole Zolman, who recently underwent surgery to remove a tumor in her brain.
       At a meeting Monday, the Moriarty Lions Club told the Fire Department it would donate space for the dinner May 31, Cohen said.
       Call the Fire Department for more information at 832-4301.
       n Jonathan Ipiotis told councilors that the regular season of the Moriarty Baseball League, which is associated with the American Amateur Baseball Congress, began April 4.
       About 350 children, from 4 to 15 years old, participate in the AABC league, Ipiotis said.
       “About 600 people came to the opening,” including children, parents, Moriarty police and fire departments, Ipiotis said.
   

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