$4.2 million in loans OK’d
On Monday, the council unanimously approved loan agreements with the Illinois EPA for the second phase of a water project near the Bloomington Country Club that separates the storm and sanitary flow, and will install a new water main.
Work begins this spring on that second phase of the Locust Street Combined Sewer Overflow Elimination and Water Main Replacement project. The city anticipates a 1.35% interest rate on two 20-year loans. An additional $117,725 to contractor Stark Excavating Inc. will come from city enterprise funds.
Insurance contract
The council also unanimously approved a nearly $1.1 million contract with Arthur J. Gallagher to provide insurance. That’s about 13% higher than last year’s contract. Categories covered include property, liability, excess liability and excess workers’ compensation.