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Lafayette Council and Lions agree on playground equipment funding bond

by Doug Hanson
The Lafayette Area Lions agreed to a park equipment upgrade and purchase agreement with the Lafayette City Council on August 14. The Lions wanted to modernize the park equipment and at the same time bringing it up to current safety codes prior to the 125th City Celebration. The State requires if some new equipment is added all the equipment must be brought up to current regulations.
The estimated cost for the project was $110,000 and the Lions needed the City’s help in financing the project. The  Lions Park Committee agreed to a five-year short term bond for the purchase of the equipment. The Lions are responsible for reimbursing the City for all of the bond payments and agreed to the conditions of the bond. The Club also understands two payments per year to the City will be required according to the bond schedule, which will include interest and principal. The bond can be paid off early.

For the entire story, check out the August 23 issue of the Winthrop News.

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