w/ Ric Hanson
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Jim Field speaks with speaker and author H.L. Hussman about his contemporary ministry and book.
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The Atlantic City Council Wednesday evening adopted a resolution expressing the City’s intent to enter into General Obligation (G-O) loan and Bond purchasing agreements with Ruan Securities, in the amount of $4.95-million. The move came during a special Council meeting, and followed public hearings on both issues. Chip Schultz, with Ruan Securities in Des Moines, acts as the City’s Bond Counsel. Schultz said the agreement with the City of Atlantic is exciting, because the timing is perfect, considering the current interest rates. Schultz said “It’s pretty spectacular that (the City) can borrow almost $5-million at just over 2% interest.” He said the bond issue covers the City’s planned Street and Storm Water Improvements, as part of the 2011 projects, Building and Park improvements and equipment acquisition, which the City has previously accomplished through an arrangement with Atlantic Municipal Utilities.
Schultz said the payment structure plan works out to 15-years, and includes Bond Issuance’s for 2013 and 2014. He says that makes for “A manageable Tax Levy, going forward.” He says interest costs on the bonds amount to $828,000, which is less than 20% of the issuance itself. Schultz said when started in the business 13-years ago, an interest cost less than one-half the amount par amount, or $2.5-million in this case, you thought you’d be getting a pretty good rate on your bonds.” But the City’s paying 18%, is advantageous.
Schultz says the City will have about 30% of its Debt Capacity remaining, or $4.9-million of legal debt capacity, after the new bond issuance is in place. Additional debt capacity will be made available after principal payments are made on June 1st. In previous years, the City ran it’s Debt Capacity at 45-to 50%, so being at around 70% is “getting up there,” according to Schultz, but since the City will be paying-off almost $2-million in debt through June 1st, 2014, that will make the capacity more reasonable. Schultz says the City of Atlantic currently has a Standard and Poor’s bond rating of A+, which is in the upper eschelon of the “A” category.The highest bond rating is “AAA,” next is “AA,” followed by “A”. Atlantic is in the latter category. Anything with a BA+ or worse, would be considered a “junk bond.”
During the Council’s meeting on March 7th, they’ll act on authorizing the issuance of the 2012 G-O Bonds, which will include authorizing the redemption of 2007 G-O Bonds. That takes place on June 1st, and will save the City $45,845 in interest costs over the next five-years. Schultz said funds from the 2012 G-O Bonds will be delivered to the City on Wednesday, March 28th. The bonds will be cull-able, on June 1st, 2019, if the City desires.
A Red Oak man faces Willful Injury and Violation of a Protection Order charges, following his arrest Wednesday night. Officials say 28-year old Brandon Scott Boydston was taken into custody at around 7:30-p.m., after Red Oak Police were called to a report from the City View Apartments, of a woman screaming for help. An investigation determined Boydston allegedly struck the unidentified woman with a baseball bat. The victim was treated for her injuries at the Montgomery County Memorial Hospital. Boydston was being held in the Montgomery County Jail on $5,000 bond.
Class 2-A Semi-Finals:
Class 3-A Semi-Finals:
Bedford 45, LeMars Gehlen Catholic 36
In its third state tournament appearance, Bedford has a chance to win its first championship.
The third-ranked Bulldogs got outstanding balance on offense, played solid defense and beat No. 9 Le Mars Gehlen Catholic 45-36 to reach the Class 1A title game.
Bedford held Gehlen Catholic to one field goal during a 14-minute stretch while building a nine-point lead, then held off the Jays’ comeback attempts down the stretch.
Savanna Thornton led Bedford with 11 points, while Caila Raymond scored 10 and grabbed 12 rebounds. Kayla Lindenmeyer added nine points for the Bulldogs, Peyton Russell scored eight and Kendyl Gruttemeyer scored seven to go with 10 rebounds.
North Mahaska 46, West Sioux 38
North Mahaska will get a chance to write a perfect ending to its dream season.
Junior Mallory Boyle led a game-changing run in the third quarter and the top-ranked Warhawks advanced to the Class 1A state championship game with a 46-38 victory over No. 5 West Sioux.
North Mahaska recovered from a frigid start to remain unbeaten through 27 games and will play third-ranked Bedford for the title at 6 p.m. Friday. West Sioux finished 25-2 after playing in the state tournament for the first time.
Boyle led the winners with a strong stat line, putting up 12 points, six rebounds, four steals, three assists and two blocks. Kate Ray added 11 points and eight rebounds for the Warhawks and Hannah Ferguson scored eight.
AMES, Iowa – Iowa State (18-10, 9-8 Big 12) rolled over Kansas State (18-11, 9-8 Big 12), outscoring the Wildcats 36-16 in the second half en route to a 57-33 Big 12 victory Wednesday in Hilton Coliseum on Senior Night. The victory, the school’s first ever on Feb. 29, moved Iowa State into fourth-place in the Big 12 by virtue of sweeping Kansas State this season.
Iowa State’s defense limited Kansas State to 29 percent shooting. The Wildcats’ 33-point scoring total was the fewest Iowa State has conceded in a conference game in the Big 12 era. Nikki Moody led the Cyclones with 15 points, including a trio of 3-pointers. Hallie Christofferson tallied 14 points and a team-high eight rebounds and Lauren Mansfield had 13 points.
The Cyclones swamped the Wildcats despite having leading scorer and rebounder Chelsea Poppens on the floor for just 17 minutes because of foul trouble. She scored four points and grabbed seven rebounds.
Iowa State quickly built on its 21-17 halftime lead with a 14-4 run out of the gate after intermission that included 3-pointers by Christofferson and Mansfield. The Cyclones led 35-21 at the 14:34 mark of the second half and never looked back.
Neither team was in sync during the first half as the two squads combined for 19 turnovers. Iowa State got a bump in the final two minutes of the first stanza as two Christofferson free throws, a 3-pointer by Moody and a bucket by Christofferson with three seconds remaining gave Iowa State at its four-point lead at halftime.
Iowa State outscored Kansas State 22-4 off turnovers.
Iowa State can finish lower than fifth in the Big 12, and concludes the regular season Saturday at 11 a.m. CST at No. 1 Baylor in Waco, Texas. The game will be televised by Fox Sports Net.
Here’s the forecast for Atlantic, and the KJAN listening area.
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