Wells promotes bond issue

"We need to upgrade the sewer treatment plant so we can begin to bring industries and growth to Nevada," Nevada city councilman Tim Wells said Thursday in an interview with the Daily Mail.

"In order for Nevada to grow we have to have infrastructure that will fit the needs of the 21st century and right now we don't have with the (current) sewers," he said.

While our wastewater treatment plant meets most current state requirements, it will not meet new regulations that will be in effect when the treatment plant's license is renewed, he said.

Wells said that if the $9.8 million in sewer bonds are approved on Aug. 7, there is low interest rate money available through the Missouri Department of Natural Resources to finance the project now and it may not be available in the future.

The 2-percent interest rate from the state is much better than the 5 or 6 percent the city would have to pay if they borrowed the money elsewhere, he said.

"The DNR has that money set aside for this project, all we need is the approval from the voters and it's there," he said.

"It makes no sense to not finance the project at this time. Even if we had the money to pay the total cost up-front, it would make more sense to take the low interest money and put the city's money in an account that would draw 3- to 5-percent interest," he said.

And if the voters approve the bonds, Wells wants the project to move forward as fast as possible.

"We need to assure the citizens that after the bonds are passed the council will make sure the process of finalizing the plan starts immediately," he said.

"This has to be done, so let's do it in the way that makes the most fiscal sense," he said. "That's the bottom line for me. We have the opportunity to save money -- so let's do it."