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City Council Approves Resolutions

Posted: Thursday, May 31st, 2012 at 6:30 am
Author: KCII News - Bill Gatchel

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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.

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The Council also heard a presentation on tax increment financing and the benefits of it for the city.