Mt. Vernon to get over $900K from American Rescue Plan

Grant money to be spent on COVID-19-related projects, Clean Water Act once city applies for funds
 
According to unofficial meeting minutes, the Mt. Vernon Board of Aldermen passed two ordinances during their meeting on Tuesday, Aug. 10, but more importantly, received word of more than $900K incoming thanks to the American Rescue Plan.
The first ordinance renewed a contract with Gilmore & Bell for the firm to provide disclosure compliance services for the city. Under the agreement, Gilmore & Bell will provide the city with the services, for which the city will pay $1,500 per year, over a period of five years.
The second ordinance authorized the city to enter into a lease purchase transaction to pay the cost of refunding outstanding certificates of participation (COPs). The lease purchase agreement will be between the city and the Security Bank of Kansas City. According to James Chen with Investopedia, COPs are a type of municipal financing often used in place of municipal bonds, where the investor (in this case, the city) is paid with lease revenues as opposed to bond interest.

City to get over $900,000 in federal funds:
During his report, City Administrator Max Springer informed the board that due to the American Rescue Plan Act of 2021, the city was to receive a $909,649.36 grant, payable in two annual installments of $454,824.68 each, to be spent on Covid-related projects consistent with the Clean Water Act. To receive the funds, the city is required to apply for them. The board voted to apply for the funds.

In other business:
The board approved a final payment of $43,919.07 to AT Urban Development and $1,397.46 to Anderson Engineering for the North Main Street Sidewalk Project, and a final payment of $4,323.50 to Anderson Engineering for their engineering services in the Spirit of ’76 restrooms project.
The board also approved sample ballot language for a sales tax that would raise funds to pay for renovating the city pool.
Springer told the board that the sewer main at 600 N. Main Street had been fixed and was ready to be dedicated to the city, along with the associated easements and water system. A contract and ordinance to authorize the dedication will be prepared and submitted to the board when ready.
During his report, Springer also told the board that Abernathy Construction donated labor and materials valued at up to $3,000 to put new roofs on the concession stand and dugouts at Field Four in Spirit of ’76 Park, as well as metal edging on dugouts that did not have them.