Danville Town Council reviews bond agreement and approves wastewater work

Compiled by Peg McRoy

The Danville Town Council met Aug. 16. These meetings can be viewed on the town’s YouTube channel. The council meets at 7 p.m. the first and third Wednesdays of each month at Danville Town Hall, 49 N. Wayne St. The next scheduled meeting is Sept. 6.

What happened: Landon Boehm, managing director of Baird Public Finance, and Josh Janak, its financial analyst, thanked the council for the opportunity to serve as the town’s bookrunning managing underwriter or placement agent for the proposed issuance of $6.1 million in revenue bonds.  They also presented to the council a letter to confirm the terms of the agreement.

What this means:  This is in relation to future town projects, including the building of a new fire station. The issuance of this bond will save the taxpayers and investors tax dollars. Baird will deliver real-time market and financing updates, collaborate with the town staff on budgetary items, and assist in reducing financing amounts.  Baird has also done work for Brownsburg, Whitestown, and Westfield.

What happened:  The wastewater department was given approval for three expenditures, including the installation of a 2061-inch pipe, topography survey and design work for the east interreceptor project, and additional design, construction administration and observation work for the east interceptor project.

What this means:  The wastewater pipe installation is an upsize in anticipation of future growth and cost $50,228. The topograpy survey and design work for the east interceptor project, done by Banning Engineering, cost $12,780. The construction administration and observation work, also done by Banning Engineering for the east interceptor project, cost $22,987.