Council approves ordinance regarding funding
By
Stephen Forsha-sforsha@gmail.com
The Hillsboro City Council held a rare Sunday special meeting on Nov. 1 to approve an ordinance regarding funding for the new police and fire building.
Hillsboro Mayor Dick Zink told The Highland County Press the ordinance gave Hillsboro city auditor Gary Lewis the right to authorize the funding for the new police and fire building.
The authorization is the renewal of the bond anticipation note for a maximum of 90 days. Lewis said the note was renewed so the city could continue to market for lower interest rates for a permanent bond. Lewis also stated the process should not take the entire 90 day period, and wouldn't be surprised if the process was finished before Thanksgiving, which is Thursday, Nov. 26.
The total funding for the police and fire building will total $2.72 million.
Zink noted the city is most proud of is ability to pay off the debt for the construction of the building without asking taxpayers for tax money.
The special meeting lasted roughly five minutes.[[In-content Ad]]
Hillsboro Mayor Dick Zink told The Highland County Press the ordinance gave Hillsboro city auditor Gary Lewis the right to authorize the funding for the new police and fire building.
The authorization is the renewal of the bond anticipation note for a maximum of 90 days. Lewis said the note was renewed so the city could continue to market for lower interest rates for a permanent bond. Lewis also stated the process should not take the entire 90 day period, and wouldn't be surprised if the process was finished before Thanksgiving, which is Thursday, Nov. 26.
The total funding for the police and fire building will total $2.72 million.
Zink noted the city is most proud of is ability to pay off the debt for the construction of the building without asking taxpayers for tax money.
The special meeting lasted roughly five minutes.[[In-content Ad]]