Video: Columbus OKs $5 Million Bond Issue

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COLUMBUS, Miss. (WCBI) –Street paving and sidewalk work could be in full swing across Columbus by the end of the summer.

The Columbus City Council tonight approved a $5 million bond issue to pay for the work. The 15-year bonds will cost at least $350,000 in interest and principal and require a 1.1 mill property tax increase starting this fall.

The council will meet with its engineers and project managers within the next 10 days to cut down and prioritize a $6.3 million list to fit within the $4.5 million the city will have after legal and engineering fees are deducted from the $5 million.

Pending final approval in two weeks, the city could have the money available by late July.

Ward 6 Councilman Bill Gavin was the only board member to vote against the measure. Gavin said he was concerned because the Council had not yet finalized the priorities or decided whether the money would be split evenly among wards or spent based on citywide priorities.

“I just don’t think we are ready,” Gavin saiBut other members said those details can be worked out and further delays could put the city at risk of not being able to do much work before the summer paving season elapses. Interest rates also are rising, which could add to the long-term costs.

Categories: Local News

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