The purpose of this correspondence is to clarify the recent advertisement that was in the Sandusky Register regarding the sale of various purpose improvement notes for October 21, 2008. A part of this note sale is related to the air conditioner replacement and upgrades at the city building performed several years ago (2001). The original note issue and associated capital expense for this was $315,000.
These are not new sources of debt; the notes are being renewed for one year and will be due October 21, 2009. The obligation is being reduced by $25,000 from $255,000 to $230,000.
The City has refrained from capital improvements at City Hall since 2001 because of ongoing discussions of possible relocation.
Please contact the city Finance Department if there are further questions on this matter at 419-627-5888.
Edward A. Widman
City of Sandusky