The City of Columbia’s new logo (Image courtesy of City of Columbia)

Credit ratings upgraded for Bi-State Development

Moody’s Investors Service has upgraded Bi-State Development’s bond credit ratings. The investment rating service raised its grade for Bi-State Development’s combined lien sales tax bonds from Aa3 to Aa2, and its rating for Bi-State senior lien sales tax bonds from A1 to Aa3. In its announcement this month, Moody’s cited several factors for the upgrades, including stability in Bi-State revenues pledged debt repayment and a sizeable and diverse tax base.

The bond upgrade came as Board of Commissioners of Bi-State Development (BSD) approved the operating and capital budget for the fiscal year (FY) that begins July 1, 2017.  The budget outlines operational expenses before depreciation of $361 million for FY 2018, and projected operational expenses before depreciation of $372.1 million for FY 2019 and $382.1 million for FY 2020.

It also comes as Bi-State looks for $20 million to fund security improvements on its MetroLink light rail lines, including the installation of turnstiles and possibly fencing the along all light rail tracks.

The East-West Gateway Council of Government last year excluded funding for new Bi-State capital improvement projects, citing concern that the agency may not have enough revenues to maintain its existing infrastructure.

Bi-State provide bus and light rail service across St. Clair County, the City of St. Louis and St. Louis County.

The agency also owns and operates St. Louis Downtown Airport in Sauget and the Gateway Arch Riverboats. It operates the Gateway Arch Revenue Collections Center and Gateway Arch trams.  Agency officials plan a role in the development of the America’s Central Port District in the Granite City area.

Swiss firm seeks to buy Bunge-SCF Grain terminal

The part-owner of the Bunge-SCF Grain terminal, 651 North Front St. in Fairmont City, is the target of a takeover bid, according to the Wall Street Journal.  The Swiss commodities and mining giant Glencore is reportedly attempting to acquire the White Plains, New York-based agribusiness and food company Bunge Ltd.; a partner in the Fairmont City gain facility as well as owner of two others in Southeastern Illinois.

Opened 2011, Fairmont City terminal is a joint venture of SCF Marine and Bunge, designed specifically for high-speed receiving and loading of soybeans and other bulk commodities for shipping to meet the demands of the international market.

A Glencore spokesperson describes the purchase bid as “informal.”  Bunge, which owns more than 100 grain terminals across the U.S., issues a statement stressing the company is not in any talks with Glencore.

New sanitary district board members appointed

The Metro East Sanitary District has three new board members representing Madison County: Helen Hawkins, Charles Brinza and Don Sawicki; all of Granite City.  The Madison County Board approved the three appointees, May 17, after they were nominated by County Board Chairman Kurt Prenzler.

The county’s three incumbent members on the sanitary district board — Board Chairman James Pennekamp, William Hanfelder, and Frank Laub —all resigned, at Prenzler’s request, prior to the county board meeting.

The sanitary district provides storm water control for the Great American Bottom area of Madison and St. Clair counties.

Hawkins has a long-standing reputation as an advocate for stormwater control measures in the flood-prone area. Hawkins currently represents District 16 on the Madison County Board. She plans to resign her seat on the country board to take the position on the sanitary district board. County Board Chairman Prenzler is to name a replacement this month.

Brinza and Sawicki both work in the computer software industry.

The sanitary district is governed by a five-member board with Madison County getting three seats because its overall assessed valuation is greater than that of St. Clair County.

Maryville again trying to leave CARD

The Maryille Board of Trustees at its May 15 meeting approved a new resolution calling for the village to be removed from the Collinsville Area Recreation District (CARD).

In the resolution, village officials reprimand the recreation district for “reckless spending, wasteful practices and excessive indebtedness.”

The district is a reported $45 million in debt.

“. . . it is in the best interest of all current and future Maryville residents and taxpayers that Village-owned property be disconnected from the Collinsville Area Recreation District and that the corporate authorities of the Village of Maryville take the necessary course of action to effectuate said disconnection.”

Village officials say the resolution is the first in as series of steps necessary to leave the recreation district.

The village board in 2011 approved a similar resolution asking CARD to allow Maryville to leave the district.

However, CARD’s governing board denied the request at that time.

Columbia adopts new logo

The City of Columbia has adopted a new logo, designed to better reflect the rural-urban nature of the fast-growing Monroe County. The new logo will appear on official city publications, letterhead, and business cards. However “Fritznickel”  — Columbia’s longtime unofficial symbol — will not disappear, city officials say. Reflecting Columbia’s German heritage, “Frtiz”, with his alpine horn and leutershausen, will continue to appear in selected marketing materials and signage, they say.

–Metro-East Area News Briefs–