Work will soon begin on upgrades to the Knox Wastewater Treatment Plant. Back in September, the board of works chose Thieneman Construction to do the work for just over $1.6 million.
Last week, a representative from engineering firm Jones, Petrie, and Rafinski told board members that contracts have been signed, and a preconstruction meeting has been scheduled for tomorrow, where the engineers expect to issue a notice to proceed. They hope Thienenman can start excavation work before the end of the year, to avoid having to deal with dewatering in the spring.
Mayor Dennis Estok reported that the Indiana Office of Community and Rural Affairs has released the grant money. When it comes to the city’s share of the funding, Estok said the bonds have been sold. He added that Knox got an A-minus credit rating, which is great for a city of its size. The interest rate ended up being 2.65 percent, almost three-tenths of a percent lower than initial projections. Estok said that will save the city about $70,000 over the span of the bond.
The bond issue also allowed the city to refinance the city’s 2009 bonds at a lower interest rate, saving about $150,000. Estok said those savings will allow the plant upgrades to be done without raising rates.
