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Council approves emergency ordinance to issue bonds for East Spring Street reconstruction
Summary
Council read and adopted Ordinance 2025-14 allowing issuance/sale of bonds (named amount in transcript) to pay assessed property-owner shares and finance East Spring Street reconstruction phase 3.
The St. Marys City Council read and adopted Ordinance 2025-14, described in the meeting as an emergency ordinance authorizing the issuance and sale of bonds to fund property-owner special assessments and costs for the East Spring Street reconstruction project, phase 3.
Counsel described the project as covering East Spring Street from Viney Street west through Pine (to the intersection with Pine) and reiterated prior action from June 24 that authorized a short-term note. That earlier note, counsel said, was for $14,000 and was used to pay property-owner shares; in this instance the balance on that note is $2,200 and must be retired next month. The ordinance was presented as a financing step to retire the note and then place assessments with the county auditor for semiannual payments over five years to recover reconstruction costs.
Council moved to suspend the rules for immediate consideration and then passed the ordinance with unanimous “all yeses” votes reported. Counsel said the note needs retirement by July and the bond proceeds will be used to retire it before assessments are placed on parcels via the county auditor’s semiannual schedule.
