Watertown City Council approves bond purchase agreement of up to $15 million (Audio)

April 5, 2021
Mike Tanner

WATERTOWN, S.D.–The Watertown City Council has given authorization to the mayor and finance officer to execute a bond purchase not to exceed $15 million.

Monday night’s 8-2 vote in favor essentially creates funding for three projects.

Finance Officer Kristen Bobzien says one of those projects is the remodeling of the former Wells Fargo Bank building downtown, which is being converted into the new City Hall…..

That remodel is expected to cost in excess of two million dollars. 

Proponents of the bond purchase, including Councilmen Glen Vilhauer and Dan Albertsen, say with low interest rates, now is the time to get this deal done.

But Councilman Ried Holien argued against the agreement…..

Council President Adam Lalim was the other “no” vote.

Other projects to be funded by the bond sale are street repairs and money for the purchase of land, and construction of, a new Street Department building.