By Debbie Rogers
MILLBURY — Lake Township is starting to reap the financial benefits of an interest rate negotiation.
At the last trustees’ meeting, Fiscal Officer Buddy Ritson said that interest rates are up to just over 3%.
“It’s bringing an additional $80,000 into the township,” he said. “Our interest rate was .006%. I looked around in the market at what other interest rates were, and we were able to negotiate better terms.”
Before the negotiation, the interest was about $200 a month or $2,400 a year, Ritson said.
The new rate is “pretty substantial” for the township coffers, he said.
“You did a good job of dealing with State Bank,” said Trustee Chairman Ken Gilsdorf.
The money will go into the general fund.
The $80,000 was part of the 2024 expected revenue budget that was approved by the trustees.
The total expected budget was $3.6 million.
Also at the meeting, the trustees:
• Heard Trustee Lorie Davis say that food trucks for everyone to enjoy will be out front of the administration building on from Friday, 11 a.m.-1:30 p.m.
• Approved spending$2,661 for a tune-up and brake and rotor repairs for the 2018 Dodge Charger used by the police department. Bayer Auto LLC, Perrysburg, will do the work.
• Approved purchasing a canopy tent for public relations events for the fire department for $1,500 from E-Z Up, Norco, California.
• Set a zoning hearing for Tuesday at 6:30 p.m. It will be on the application request from Hillabrand & Sons, which is requesting a zoning change on 33.33 acres fronting Woodville Road from R-2 residential to B-3 Highway Business.
• Heard a celebration of life service for former township official Ray McLargin will be held Saturday from 1-3 p.m. in the administration building.
• Heard that a retirement ceremony for Battalion Chief Ed Brown and firefighters Cory Ammerman and Ben O’Neal will be held at the Tuesday trustees meeting, with a reception to follow at Station 27 in Walbridge.
