Wednesday evening The Seneca City Council approved a resolution of the city’s intent to issue up to $880,000 in general obligation bonds to rebuild three blocks of Main Street The total project cost from 3rd to 6th Street is estimated at nearly $2.5 million.
Seneca has been awarded a grant from the Kansas Department of Transportation will cover nearly $1.6 million of the project cost. The project includes replacing existing brick surface and installation of new sidewalks. The city will pay all the cost to replace underlying water mains.
The project is expected to begin in late spring or early summer. The city plans to pay off the 10-year bond issue with revenue from the city’s existing half-cent sales tax.
The average value of Nebraska farmland jumped 22 percent last year because of the combination of high commodity prices, strong farm income and limited land availability.
The University of Nebraska-Lincoln’s Institute of Agriculture and Natural Resources says its annual survey shows the average value of farmland statewide reached record levels of $1,833 per acre.