SLEEPY EYE — The Sleepy Eye City Council unanimously approved awarding the sale of $6.1 million in general obligation refunding bonds Tuesday, saving $545,617.

The resolution that saved about $350,000 in hospital bonds and shortened the bond period by several years, according to a securities agent, came on a motion by Councilor Nate Stevermer, seconded by Gary Windschitl.

Northland Securities Rep. George Eilertson said he and Sleepy Eye City Manager Bob Elston worked hard on putting the City’s best foot forward. He said the bonds were sold to investors several weeks ago and that Sleepy Eye has a very good credit rating of AA minus from Standard and Poor’s.

The city council also:

* By a 4-1 vote with councilor Larry Braun dissenting, approved a Sleepy Eye Lake Water Quality Monitoring project with the Minnesota State University, Mankato Water Resource Center Geology Professor Dr. Bryce Hoppie plus graduate and undergraduate students.

Mayor Wayne Pelzel said the $70,000 project could be paid over two years and would monitor slough sediment in the northeast corner of the lake.

“Fifteen years ago when we dredged the lake, it was 12 feet deep in the northeast corner. Now it’s three feet deep due to sediment,” Pelzel said. “It’s a crisis we need to address.”

Braun opposed spending money on the project. He made a motion to freeze city spending except for daily expenses. The motion died for lack of a second.

“With this pandemic and the stock market, there’s a crisis all over to me,” Braun said. “We aren’t making money at the (Sleepy Eye) Event Center, we lost Del Monte and people are out of work.”

Others disagreed, except for an unidentified woman.

“I’d say the lake is one of our diamonds in this community,” Pelzel said. “If we don’t take care of it, we may have to dredge it again.”

Pelzel said the study would begin this fall and continue all of next year.

A woman who accessed the meeting online and had audio access, questioned the study, asking why the City should pay for it “when you don’t know what the future holds.”

“We’re financially stable,” said Councilor Joann Schmidt. “Our bond rating illustrates that. It never gets cheaper (to do a study) over time.”

“We never know the future. Nobody does,” said councilor Gary Windschitl.

* Tabled the Sleepy Eye July Fourth fireworks display decision to the June 9 city council meeting.

* Tabled deciding if the Sleepy Eye Water Park would open this year until a May 20 special meeting. Elston said right now, the water park would not open, according to executive orders from Gov. Tim Walz.

Fritz Busch can be emailed at fbusch@nujournal.com.