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Signal Mountain council approves water payment, approves Abbott contract amendment and advances budget amendments to public hearing
Summary
The Signal Mountain Town Council voted unanimously Monday to distribute $32,000 from the town's water fund in lieu of ad valorem taxes, approved a $37,777.26 final payment to Abbott Enterprises, and took the first reading of an ordinance amending the 2024'25 budget. Council set dates for upcoming 2026 budget readings and public hearings.
The Signal Mountain Town Council on Monday unanimously approved a $32,000 distribution from the town's water fund in lieu of ad valorem taxes, voted to increase a previously authorized payment to Abbott Enterprises to a final cost of $37,777.26, and took the first reading of an ordinance to adjust appropriations in the 2024'25 budget.
The water-fund distribution resolution, described at the meeting as the town's payment in lieu of property taxes on the water system for fiscal year 2024'25, was moved, seconded and approved without recorded opposition. Council members said they would follow up after staff noted that the amount had been budgeted in the prior audit but apparently not received in the town's records for the prior year.
The council also approved an amendment to Resolution 2025-17 to increase the payment to Abbott Enterprises from the originally authorized amount to $37,777.26, a $2,777.26 increase covering…
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