Tuesday, March 6, 2012
Arnold councilmen need to decide how to use $1.25 million bond reserves, $200,000 annual savings in debt payments.
The City of Arnold has a difficult but pleasant decision to make in this bond market. The city could save about $200,000 yearly, until they year 2027, if councilmen decided to refinance Arnold’s municipal bonds issued in 2003. The 2003 bonds were used to build the Arnold Recreation Center at 1695 Missouri State Road. ________ Poll: How should the city use the money saved? Let us know in your vote at the end of the article. ________ “We are at historic, historic low interest rates,” said Carl Ramey, the Stifel Nicolaus public finance advisor for Arnold. Refinancing would have city issue new bonds, this year, that have a lower interest rate to essentially replace the bonds issued nearly 10 years ago. Refinancing would also free $1.25 million…
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Monday, January 9, 2012
Arnold City Attorney Bob Sweeney attended the Creve Coeur red-light camera case to prepare for the class-action lawsuit against Missouri cities using red-light cameras.
Arnold Ward 1 Councilman Doris Borgelt criticized City Attorney Bob Sweeney’s billing and legal strategies in an email to constituents sent in December. Specifically, Borgelt said Arnold tax payers were paying for Sweeney to attend Missouri Court of Appeals case regarding the use of American Traffic Solutions’ red-light traffic cameras in the City of Creve Coeur. St. Louis County resident Mary Nottebrok appealed a court decision regarding Creve Coeur’s red-light policy to the Missouri Court of Appeals, Riverfront Times reported. The case began Oct. 5, 2011. Nottebrok’s attorney argued to the appellate court that the red-light cameras violated a person’s right to due process. “We are paying for our attorney to attend and sit in the audience…
Tuesday, May 3, 2011
City Attorney Bob Sweeney said no legal conflict of interest exists. Armstrong Teasdale is a large firm and different attorneys will work on the separate lawsuits.
Mayor Ron Counts cast the tie-breaking vote allowing the law firm Armstrong Teasdale, which works for city of Arnold, to defend former Ward 2 Councilman Jerel Poor in a separate lawsuit. Counts vote, during a city council meeting on April 26, avoided a possible legal conflict of interest for the 241-lawyer firm with offices in St. Louis, Kansas City and Jefferson City. City Attorney Bob Sweeney said the firm works with him to defend Arnold in a lawsuit against Poor. Poor’s complaint is that a storm water charge imposed all property within city boundaries is unconstitutional, reported Missouri Lawyers Media, a trade publication. The water charge is a tax issued without the voters’ approval, the magazine reported. During the city council …
Tuesday, April 26, 2011
Each resident must ask for the longer term payments, City Attorney Sweeney said.
Ozark Drive residents who must pay a total of $343,000 for a new bridge can request up to 20 years to pay for the project. Without the request, they would have to pay for the project in 10 years. Arnold City Clerk Diane Waller asked City Attorney Bob Sweeney and the newly installed City Council about the matter during the April 21 council meeting at City Hall, 2101 Jeffco Blvd. Council members approved the bridge’s cost in a 6-2 vote during the April 7 council meeting. Then-councilmen Bob Lindsley and Jason Connell voted against the proposal, because they wanted to hear from all eight Ozark Drive residents who would be billed for the project. Ozark Hills Park Properties would pay about $266,000 of the bridge’s cost, because it owned the …
Thursday, January 13, 2011
City Attorney Bob Sweeney must create a sump pump ordinance that assures the public safety but does not resemble the U.S. tax code.
Arnold City Attorney Bob Sweeney has the challenge of writing an ordinance to deal with the slimy problem of sump pumps. Two residents, during the Council’s Working Session in City Hall on Thursday, described the public hazard and private property issues caused by neighbors with sump pumps that continuously drain water on to lawns and streets. Aimee Knisley, who owns a home in the Missouri Meadows area, said water flows day-and-night throughout the year from a neighbor’s sump pump. During the summer the running water lays a thick slime coating along her driveway and down the street, she said. In the winter months, the water turns to ice and has been as thick as 10-inches. “I’ve had to take my son to the hospital after he slipped on the …
Doris Borgelt
4:33 pm on Friday, March 30, 2012
It seems there has been an unfavorable change in the bond market and there will no longer be any savings upon refinancing of this debt. So things will remain as they are currently and we will wait to see if another opportunity comes along. more ›