The Great Bend City Council Monday night rejected two options for bolstering uniformed first responders pensions council members feared were unsustainable using only the sales tax approved by voters in November and could lead to property tax hikes. Instead, they opted for using the sales tax money to create an in-house profit-sharing plan for firefighters and police officers. On the table were three options, said Mayor Cody Schmidt. These included: Switching to Kansas Police and Fire through the Kansas Public Employment Retirement System; augment current Mission Square money purchase plan; or create the new Mission Square profit-sharing plan. … Under the profit-sharing option, the city would equally divide annual sales tax receipts among uniformed police and fire employees, based on an as-yet-to-be-determine formula.
Source: Great Bend Tribune

The first Charlie Walker Entrepreneurial Challenge started this week in Salina. Community members can view pitches and see what fellow Kansans think would be a good business for Salina and neighboring towns. Last month, several groups, including Startup Salina, got together and offered a challenge for local residents to come up with a new business, complete with a business plan. The challenge was open to residents of Dickinson, Ellsworth, McPherson, Ottawa and Saline counties who were wanting to start a business.
Source: Salina Journal

The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.