The Washington City Council held a special meeting last night regarding different resolutions. This meeting contained a public hearing on the consideration of a resolution of amending a loan agreement relating to the 2006 Tax Increment Financing Revenue Bond. They passed a resolution ratifying the publication of notice regarding the refinancing of this bond. The refinancing will be to extend the bond payments from four to eight years.
There was also a public hearing and discussion related to a resolution to amend the adopted fiscal year 2012 budget. City Administrator Brent Hinson says this amendment gives a better picture than what was presented during budget presentations in the winter.
The Council also heard a presentation on tax increment financing and the benefits of it for the city.