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Officials at American Legion Post 336 in Onalaska burned their 15-year mortgage after they received a free-and-clear title to the building along Sand Lake Road.
“It’s a significant event in a community when it can reclaim ownership by burning a mortgage,” said Post Commander Jim Nelson.
Flanked by Auxiliary President Diane Ryan and Mayor Mike Giese, Nelson set fire to the loan documents while 7th District Legion Riders stood guard around the room and the audience applauded.
Nelson, who had just returned from a trip to Normandy to commemorate the 65th anniversary of D-Day, said he was proud to be involved in a community whose members step up and help when needed.
“The success of the Legion has nothing to do with what we pay people,” Nelson said. “It’s all about the volunteers and the people that step up for whatever is needed.”
Giese said it was a pleasure to be at that ceremony rather than at City Hall, where the city is scrambling to cover a significant shortfall of interest income due to the national recession.
The original American Legion Post 336 mortgage, taken out in 1994, was with State Bank for $201,931 at 8.75 percent interest. In 1998, the loan was transferred to M&I Bank for $118,806 at 8.5 percent. In 2004, a new note was written for $100,000 at 5.5 percent. The last payment was made Jan. 31.
With the mortgage paid, Nelson said, members are looking at what they can do with the funds.
“We’ve got things in the hopper,” Nelson said. “Constant upkeep and increasing costs keep the Legion on the lookout for additional funding.” The post is considering expansion of the building for storage space and is looking for help with its utility bills, which average $3,000 per month.
Nelson said the post continues its goal of participating in events such as Sunfish Days, the community cemetery and the waterfront activities, and it’s looking forward to its fourth year of hosting Legion Days in August.
“Our primary goal is to take care of the vets,” Nelson said. “But whatever it is, we want to be good neighbors.”
Strengthening membership involvement in activities for the post as well as its presence in the community is another ongoing goal as is donating money to various causes such as scholarships and charitable organizations.
In addition to the burning, Nelson recognized Bob Wilhelm for his 60 years as a Legion member.
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Hank wrote on Jun 18, 2009 3:12 AM: