Mattawa city may refinance its debt

MATTAWA - The Mattawa City Council entertained a presentation from a Columbia Bank representative about debt restructuring at its June 21 meeting.

According to City Clerk Robin Newcomb, the bank rep proposed four percent interest on 15-year terms. She said the council will look into the possibilities.

The city's current debt is about $1.2 million in four different loans with the U.S. Dept. of Agriculture for water and sewer construction. Newcomb said the USDA suggests refinancing every two years or so.

Now may be a good time to go with Columbia. The four loans with the USDA have interest rates of 4.5, 4.5, 5.125 and 5.125 percent.

In other business, the council ordered a new American flag for a raising ceremony at Hund Memorial Park on the Fourth of July. The ceremony will be accompanied by a breakfast by the Mattawa LDS church.

In police department news, applicant Vicente Medelez is well on his way toward being the next entry-level officer. He recently passed a polygraph examination. Next on the list is psychological testing.

If Medelez is successful there, he will be hired, Newcomb said. Then he will be off to a police academy.

In other action, the council passed a draft resolution for annual fire and safety inspections for businesses in the community. A final resolution could be adopted at the next meeting on July 5.