Council OK's $6.4 Million in Bond Issuance

Bonds Will Finance Expansion of Precision Leasing

Grove City Council members approved the proposed issuance of $6.4 million in revenue bonds for financing the expansion of Precision Leasing Company LLC in Grove which will add some 30 new employees to the staff. The City is neither the lender nor the borrower.

At Tuesday's meeting, Council also honored Jim Rhoads as Employee of the Month, citing him for discovering a leaking low pressure natural gas line belonging to the new Early Education Center and bringing it to the attention of his supervisors. Testing showed the line was actually leaking, officials said, and "the gas could have migrated into the school building causing a disaster for our community."

Council also approved 5-0 to bid out for a new 2008 police pursuit vehicle at an estimated cost of $33,000; three dispatcher work stations for the police department at a cost of $15-$30,000; bids for installation and purchase of video sensor equipment at the traffic light at Third & Main, with $30,000 budgeted in 07-08; and purchase of a new four wheel drive backhoe at an estimated cost of $65,000 for GMSA use.