Council proposes 2.5% surcharge for street repairs

Absent Mayor Clarence Friar in Tuesday’s meeting, the Brady City Council under the direction of mayor pro-tem Matt Mills approved the first reading of the 2001-2002 budget that will attempt to provide a solution to street repair in the City of Brady. In a public hearing, the Council gave audience members a chance to discuss the proposed budget for fiscal year 2001-2002. Through four or five budget workshops, a projected grand total of expenses for the upcoming fiscal year was narrowed down to $13,440,118. Within that dollar amount, the city has budgeted $2 million for street repairs. To offset the cost for street repairs, the City has added a 2.5 percent surcharge to all utility bills (both industrial and residential). The surcharge will be applied to all utility bills for the next 20 years and removed when the obligation is paid in full. Mayor protem Mills stated that the note will be applied without a pre-payment penalty ensuring that in the event that the city has an opportunity to pay off the note in advance, no penalty will be issued. Certain specifications set forth in the plan prohibits the surcharge from being applied after the 20 year period. With little questioning from the audience, the Council unanimously voted to adopt the proposed budget for fiscal year 2001-2002. In a separate but similar item concerning the city’s budget, the Council voted to amend

Leave a Comment