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The Edwardsville City Council agreed Monday night to authorize the issuance and sale of $1,065,000 in bonds to Midpoint Corporate Centre Improvement District.

Scott Anderson, the city’s bond counsel with Gilmore & Bell, said the city agreed to issue this bond to the developers back in 1998. Up until this point, he said, the developers have been paying out-of-pocket for every improvement that’s been made to the district.

Of the $1,065,000 bond, $952,562 will be used to reimburse the developer for improvements already made to the benefit district. $47,437 will be used to pay for the costs of issuance. And $65,000 will be used pay outstanding general-obligation bonds issued in 1998. The bond will have a net interest cost of 3.9132 percent.

“The bond is self-paying. The city should not be out-of-pocket of anything,” he said.

City Administrator Michael Webb said he thought this bond issuance was “forward-thinking.” He said it was unique to have a developer agree to put the funds upfront for the improvements to the benefit district.

He said previously the district had no value at all, and now, value has been added before the city had to issue the bond, which lowers the city’s risk.

Anderson said that assuming every business owner in the district pays the special assessments, the city should see no effect on its mill levy. He said he’s hoping for a 100 percent return from the business owners because the current tenants all have strong, reliable ties to the community.

“I think, given the parameters of the development agreement,” Anderson said, “it all turned out as well as it could.”

The council voted, 4-0, with Patrick Isenhour absent, to approve Ordinance No. 869 authorizing the bond issuance, as well as a resolution detailing the bond’s specific terms.

In other business Monday, the council:

• Approved, 4-0, the payment of bills totaling $87,658.65.

• Heard a presentation in which Golden Living Kaw River retirement community representatives gave Fire Chief Cliff Lane a $3,000 check to help the Fire Department purchase a defibrillator.

• Confirmed, 4-0, the mayoral appointment of Michael Webb as City Administrator.

• Confirmed, 4-0, the mayoral appointment of Phyllis Freeman as City Clerk.

• Confirmed, 4-0, the mayoral appointment of Michelle Bounds as City Treasurer.

• Confirmed, 4-0, the mayoral appointment of Cliff Lane as Fire Chief.

• Confirmed, 4-0, the mayoral appointment of Mark Mathies as Police Chief.

• Confirmed, 3-2, the mayoral appointment of Reed Walker as City Attorney. Craig Crider and John Eickhoff voted against the appointment and Chuck Adams and Doug Danner voted for the appointment. Mayor Heinz Rodgers gave the ‘yes’ tie-breaking vote.

• Discussed the proposed city employee handbook. Webb said that a draft of the handbook had been given to people within each department and a meeting was held with department representatives to get feedback.

The biggest change, he said, was putting a cap on the sick-leave hours an employee who retires under good terms can cash out. The limit is now 320 hours for employees who have been with the city for five years.

• Confirmed, 4-0, the appointment of William “Jason” Cummins and Eric Witzleb to fill two vacant police officer positions within the department. Police Chief Mark Mathies said these new hires will bring the department to full capacity.

• Approved, 4-0, to make “Small town livin’, big city pride” the city’s official slogan. The slogan was the first-place winner in the 13-and-older category of a recent slogan search contest. Kelsie Spencer won a $250 savings bond for winning first place.

• Met in executive session for 30 minutes to discuss employee-employer relations and litigation.

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