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Council approves consent agenda but questions $26,000 extra bond interest payment; staff to investigate
Summary
During consent agenda discussion council raised a previously unbudgeted additional $26,000 interest invoice related to a utility bond refinance; City Manager Butterfield said staff paid the invoice to avoid default, and council asked staff to obtain the bond payment schedules and explain the double payment.
Port Richey City Council approved the Oct. 14 consent agenda after extended discussion of a bond payment entry that appeared to create an unbudgeted $26,000 interest charge. City Manager Andrew Butterfield told the council that the city had paid $26,000 in April and a $130,000 principal payment in September, and that an additional…
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