In August, the 10 cities within the RS Fiber Cooperative Project were notified that RS Fiber would not be able to make their bond payment for the next 2 years, and now the cities have to make those bond payments. Winthrop City Councilor Julie Trebelhorn said even though tax dollars are involved in making the bond payment, it’s not catastrophic for the city. She said although it’s not a situation they would ask for, it’s nothing that they can’t manage.
After the 2 years, they will receive a report and reevaluate. Trebelhorn said this was worked into their budget planning process for the City of Winthrop. Their original proposed levy had an 18% increase, and after workshopping and making cuts, the increase is now only at 6.48%. She said the support from the City is still strong.